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Bankruptcy in Colorado: Exemptions and Filing Guide

State-specific bankruptcy exemptions and filing information for Colorado. These exemptions determine what property you can keep when filing Chapter 7 bankruptcy.

Data last updated: Jan 15, 2025

Key Takeaways

  • Homestead exemption: $250,000 ($350,000 if elderly or disabled).
  • Vehicle exemption: $15,000 (one motor vehicle used for work).
  • Must use state exemptions (no federal option).
  • Attorney fees: $1,200–$2,000 (Ch. 7) / $3,000–$4,500 (Ch. 13) typical.
$250,000 ($350,000 if elderly or disabled) Homestead exemption
$15,000 (one motor vehicle used for work) Vehicle exemption
No Federal option
$338 (Chapter 7) / $313 (Chapter 13) Filing fee

Colorado Bankruptcy Exemptions

  • Homestead$250,000 ($350,000 if elderly or disabled)
  • Vehicle$15,000 (one motor vehicle used for work)
  • Personal property$6,000 household goods
  • WildcardNone
  • Federal exemptionsNot available

Means Test: Colorado Median Income

To qualify for Chapter 7 in Colorado, your income must be below the state median or you must pass the means test showing no disposable income for creditors.

  • 1 person$72,850
  • 2 people$88,250
  • 3 people$99,000
  • 4 people$113,180

Filing Costs

  • Court filing fee$338 (Chapter 7) / $313 (Chapter 13)
  • Typical attorney fee$1,200–$2,000 (Ch. 7) / $3,000–$4,500 (Ch. 13)
  • Court districtsDistrict of Colorado

Colorado bankruptcy court

Related Resources

Frequently Asked Questions

  • What is Colorado's homestead exemption?

    Colorado protects up to $250,000 of equity in your home, increasing to $350,000 for those who are elderly or disabled.

  • Can I keep my car if I file bankruptcy in Colorado?

    Colorado provides a generous $15,000 vehicle exemption for a motor vehicle used for work, which is among the highest in the nation.

  • Does Colorado allow federal exemptions?

    No. Colorado requires the use of state exemptions.

  • What assets are fully exempt in Colorado?

    Colorado fully exempts ERISA-qualified retirement plans, Social Security, workers' compensation, and unemployment benefits from the bankruptcy estate.

Legal Disclaimer: FreeNetLaw provides general legal information, not legal advice. The information on this site is not a substitute for consultation with a licensed attorney. Laws vary by jurisdiction and change frequently. Always verify information with official sources and consult a qualified attorney for advice about your specific situation.

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