Credit Repair By Better Credit Reports Consulting


Colorado STATE LAW


Federal law applies


– Legal: 8%
– Judgment: 8% or contract rate


– Open Account (credit card): 3 years
– Written Contract: 6
– Written Contract for Goods and Services: 3 years
– Domestic Judgment (District Court): 20 years (renewable)
– Domestic Judgment (County Court): 6 years (renewable)
– Foreign Judgment: 6 years


– Treble Damages (3 times) plus reasonable collection fees

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One party state


Colorado Revised Statutes
Cannot use the federal exemptions, but an use the federal non–bankruptcy exemptions

. The State of Colorado exempts the following property from seizure by creditors when filing bankruptcy:

Real Estate:

– Real property up to $30,000 and proceeds from sale exempt for one year after received (must file homestead exemption) [38–41–201, 38–41–201.6 et seq.]
– Mobile home used as a residence up to $6,000 and house trailer or motor coach used as residence and only when occupied up to $3,500 [13–54–102(1)(o)(l) and (ll)]

Personal property:

– Appliances and household goods up to $1,500 [13–54–102(1)(e)]
– Health aids, unlimited amount [13–54–102(1)(p)]
– Clothing up to $750 [13–54–102(1)(a)]
– Pictures and books up to $750 [13–54–102(1)(c)]
– Jewelry up to $500 [13–54–102(1)(b)
– Burial plot, unlimited amount [13–54–102(1)(d)]
– Food and fuel up to $300 [13–54–102(1)(f)]
– Machinery, tools of farmer, mules, horses up to $5,000 total [13–54–102(1)(g)]
– Library of professional, supplies, tools, machines, equipment and books up to $1,500 total [13–54102(1)(k)
– Motor vehicles used for work up to $1,000 or up to $3,000 if used to get medical care, elderly or disabled [13–54–102(j)(1)(ll)(a)]
– Livestock and poultry of farmer up to $3,000 [13–54–102(1)(g)]
– Personal injury recoveries, unless debt is related to injury, unlimited amount [13–54–102(l)(n)]
– Proceeds for damaged exempt property up to exemption amount [13–54–102(1)(m)]
– Security deposit, unlimited amount [13–54–102(l)(r)]

Insurance / Annuities:

– Disability benefits to $200 per month, entire amount exempt if received in lump sum [10–16–212]
– Fraternal society benefits, unlimited amount [10–14–403]
– Group life insurance policy or proceeds, unlimited amount [10–7–205]
– Homeowners' insurance proceeds for one year after received and up to real estate exemption amount [38–41–209]
– Life insurance cash value or proceeds up to $25,000 [13–54–102(1)(1)]
– L life insurance proceeds if policy prohibits paying beneficiary's creditors, unlimited amount [10–7–106]

Pensions / Retirement Plans:

– Firefighters, unlimited amount [31–30–1117]
– Public employees, unlimited amount [24–51–212]
– Police officers, unlimited amount [31–30.5–208]
– Teachers, unlimited amount [22–64–120]
– Veterans, unlimited amount [13–54–102(l)(h) and 13–54–104]
– Retirement benefits and IRAs, unlimited amount [13–54–102(1)(s)]

Public Benefits / Entitlements:

– Veteran's benefits, unlimited amt [13–54–102(1)(h)]
– Workers' compensation, unlimited amount [8–42–124]
– Aid to blind, aged, disabled and families with dependent children, unlimited amount [26–2–131]
– Crime victims' compensation, unlimited amt [13–54–102(1)(q) and 24–4.1–114]
– Unemployment compensation, unlimited amount [8–42–124]


– 75% of earned but unpaid wages or pension payments (50% where supporting spouse and 60% if single; special provisions for low–income debtors) [13–54–104]


- Business partnership property, unlimited amount [7–60–125]