Planning and Filing Colorado Bankruptcy Cases

The best-planned bankruptcy cases go unnoticed. A few debtors glide through the system without attracting attention and receive full discharges in record time. Luck is not involved, but rather each successful debtor begins planning strategically a few weeks or months in advance. These debtors know something that you don’t.

Free - 2010 Bankruptcy Strategies Explained

Ask a Bankruptcy Lawyer for Help – Expand Your Options Quickly

If you are thinking about filing Chapter 7 or Chapter 13 bankruptcy, you are not alone. Complete the form below to contact a sponsoring bankruptcy lawyer. Ask all questions you deem important without cost or obligation of any kind. Free help is only a few minutes away.

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Colorado Bankruptcy Laws - Miscellaneous Exemptions

Colorado Revised Statutes provide for the following miscellaneous property items to be retained when filing under the Code:

• Child support if recipient does not mix with other money or deposits into separate account for the benefit of the child - 13-54-102.5
• Property of business partnership
• Aid to blind, aged, disabled, AFDC - 26-2-131
• Crime victims’ compensation - 13-54-102(1)(q), 24-4.1-114
• Unemployment compensation - 8-80-103
• Veterans’ benefits for veteran, spouse or child if veteran served in war - 13-54-102(1)(h)
• Workers’ compensation
• Horses, mules, wagons, carts, machinery, harness and tools of farmer to $2,000 total - 13-54-102 (1)(g)
• Library of professional to $1,500 or stock in trade, supplies, fixtures, machines, tools, maps, equipment and books to
  $1,500 total - 13-54-102 (1)(i), (k)
• Livestock and poultry of farmer to $3,000 - 13-54-102 (1)(g)

Operation of Colorado bankruptcy laws with the Code

According to 11 U.S.C. 522(l) The debtor shall file a list of property that the debtor claims as exempt under subsection (b) of this section. If the debtor does not file such a list, a dependent of the debtor may file such a list, or may claim property as exempt from property of the estate before the Colorado bankruptcy court. Unless a party in interest objects, the property claimed as exempt on such list is exempt. The trustee, creditors, an interested party, or the court upon it's own motion, may file an objection to exemptions designated within a debtor's schedule. Denial requires notice to debtors and hearing.

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