What Creditors Can't Take in Colorado
Money, home and vehicle exemptions that protect your property from creditors in Colorado.
Short answer: Up to $2,500 in total in a depository account or accounts in the debtor's name is exempt. C.R.S. § 13-54-102(1)(w)
| Money protected in a bank account | Up to $2,500 in total in a depository account or accounts in the debtor's name is exempt. Amended by SB 22-086 (2022). Exempt benefits deposited in an account keep their own protections. Source: C.R.S. § 13-54-102(1)(w) |
|---|---|
| Homestead exemption | $250,000 of equity in a home occupied by the owner or the owner's family, or $350,000 if the owner, the owner's spouse or a dependent living there is elderly (60 or older) or disabled. Amounts set by SB 22-086, effective April 7, 2022. Read in the official 2024 Title 38 printout. Source: C.R.S. § 38-41-201 |
| Vehicle exemption | Up to two motor vehicles or bicycles kept and used by the debtor, up to $15,000 in total value; $25,000 if the debtor, the debtor's spouse or a dependent is elderly or disabled. Snowmobiles, ATVs, boats, travel trailers and motor homes do not qualify. Source: C.R.S. § 13-54-102(1)(j) |
| Bankruptcy exemptions | Colorado has opted out of the federal exemptions. Colorado residents may claim only the exemptions provided by Colorado statutes. Source: C.R.S. § 13-54-107 |
Where to get help in Colorado
- Colorado Attorney General, Consumer Credit Unit (licenses collection agencies under the Colorado Fair Debt Collection Practices Act)
- File a complaint or claim
More Colorado debt & collections
- Statute of Limitations on Debt in Colorado
- Wage Garnishment in Colorado
- How to Respond to a Debt Collection Lawsuit in Colorado
- Medical Debt Protections in Colorado
- All Colorado debt & collections rules
FAQ
How much money in a bank account is protected from creditors in Colorado?
Up to $2,500 in total in a depository account or accounts in the debtor's name is exempt.
What is the homestead exemption in Colorado?
$250,000 of equity in a home occupied by the owner or the owner's family, or $350,000 if the owner, the owner's spouse or a dependent living there is elderly (60 or older) or disabled.
Can a creditor take my car in Colorado?
Up to two motor vehicles or bicycles kept and used by the debtor, up to $15,000 in total value; $25,000 if the debtor, the debtor's spouse or a dependent is elderly or disabled. Snowmobiles, ATVs, boats, travel trailers and motor homes do not qualify.
Which bankruptcy exemptions can I use in Colorado?
Colorado has opted out of the federal exemptions. Colorado residents may claim only the exemptions provided by Colorado statutes.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.