New Homestead Exemption & Consumer Debt Protection Law CLE Program
Hosted by the Consumer Law Committee
Start Date - End Date
May 18, 2022
Registration Deadline
Tuesday, May 17, 2022
New Homestead Exemption & Consumer Debt Protection Law CLE
Date: Wednesday, April 18th
Time: 12:00 pm - 1:00 pm
Location: Zoom information will be sent the day of the program
Program Description
April 7, 2022 - SB22-086 took effect upon signing by Gov. Polis
The Law increases Colorado's Homestead Exemption and other Exemptions applicable in bankruptcy and judgment creditor collections.
Key provisions:
· Increased the Homestead Exemption [HE] to $250,000 [or to $350,000 if debtor or family is 60+ OR if debtor or family disabled];
· Has HE cover non-traditional housing;
· Reinstated bank account exemption [up to $2,500in bank account(s)];
· Increased Vehicle exemption to $12,000/$25,000 [if debtor or family is 60+
OR if debtor or family disabled];
· Increased Household Goods exemption to $6,000/person;
· Increased disability benefits exemption to $5,000/mo/mo;
· Increased farm equipment/livestock exemption to $100,000;
· Added exemption for future economic stimulus payments;
· Added a firearm/hunting equipment exemption [up to $1,000];
· Added an exemption for health savings accounts [HSAs];
· Added exemption for funds reserved [aka LEFSA accounts] for taxes & insurance on some reverse mortgages;
· Keeps exemptions on unemployment & child support even if funds commingled in a bank account.
Speaker Bio
Karen Cody-Hopkins does Chapter 7 and 13 bankruptcies in Colorado, but since 2006, Karen has focused her practice on student loan cases. Cody-Hopkins began her legal practice in Minnesota in 1993 and relocated to Colorado in 2002. Having been a lawyer, entrepreneur/small business owner of a legal technology company and her own law firm, as well as a Fortune 500 company marketing professional, and business consultant, she can advise clients from a number of perspectives. She has a B.A. from Smith College, an M.B.A. from the Booth School of Business at the University of Chicago and a J.D. from Mitchell Hamline School of Law.
After moving to Colorado in 2002, she joined Charles Lilley & Associates, P.C. where she filed chapter 7 and 13 bankruptcies and worked on securities fraud, consumer, and antitrust class action cases. In 2011, she started her own firm. She also advises and lobbies on behalf of people facing student loan debt problems. Today most of her cases are student loan cases including those in bankruptcy as well as state and federal court. She has taught student loan law to other lawyers and is a very active contributor to two national lawyer listservs concerning student loans. She is admitted to all Colorado federal and state Courts. She worked on Colorado exemption legislation in 2015 and 2021-22.
Registration Fees
| Price Description | Amount |
|---|---|
| Member | $0.00 |
| Non Member | $10.00 |
Available Functions
Speakers
| Name | Organization | Speaking At |
|---|