Colorado Bankruptcy Laws

Approximate annual median: 1 person $50,242; 2 persons $65,701; 3 persons $71,138; 4 persons $83,330. Households below the median qualify for Chapter 7 without the full means test calculation.

Protects up to $250,000 of equity in the debtor's primary residence. Increased to $350,000 for debtors age 60+, disabled, or those with a dependent spouse who qualifies. If the home was acquired within 1,215 days (~40 months) before filing, federal law caps the exemption at $214,000.

Protects up to $15,500 in aggregate motor vehicle equity. Increased to $25,500 for elderly or disabled debtors.

Household goods: $6,000. Clothing: $2,000 per person. Jewelry/watches: $2,500 per person. Firearms/hunting/fishing equipment: $1,000. Colorado does not have a wildcard exemption.

Up to 80% of disposable earnings are exempt from garnishment (or 75%, whichever is greater for the debtor). This is more protective than the federal 75% standard.