What are exemptions?

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Exemptions are protected allowances for the value in certain assets. For example, a homestead exemption protects the equity you have in your home, up to a certain value. All States have different exemption laws which protect the value in certain assets. In most circumstances, you will be able to keep all of your property since Colorado has some of the best exemptions in the country. However, you need a qualified Colorado bankruptcy attorney to discover any possible problems prior to filing your bankruptcy case. We cannot tell you how many times we see a person in court loose a house, car or motorcycle because they either did not have an attorney or used a bankruptcy filing service and did not have any attorney representation. Hiring an attorney is a small price to pay in order to insure that you will not have any unexpected surprises.

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