In Colorado, there is no exemption for non-retirement accounts or cash that you own at the time your bankruptcy case is filed. So, typically, we will be very carefull to have you spend down your money located in checking, savings and brokerage accounts prior to filing your case. Due to the CoVid19 crisis, Colorado has granted a temporary reprive.
As of July 1, 2020 and continuing through February 21, 2021, there is now a temporary exemption that allows you to have up to $4,000.00 in a bank (depository) account at the time that you file your case. This allows much of the problems in timing when your case is filed to be eliminated. HOWEVER, THIS EXEMPTION IS ONLY TEMPORARY AND WILL END IF YOUR CASE IS NOT FILED PRIOR TO FEBRUARY 21, 2021.
Note: This does not grant an exemption to cash on hand (not in a bank account) or to funds owed to you by your employer on the date your case is filed.