Coloardo Car Exemption [Archive]

AreSoonParted

01-19-2007, 06:29 AM

Hello All,
We're a few months away from a Ch7 in Colorado. We currently own 2 cars each of which has less than 3000 in equity. My car is used for transportation to work. My wife stays at home and watches our 5 kids. I think the Colorado car exemption is for 3000 if the car is used for work. I was just wondering if anyone out there has experience in exempting a car used by a stay at home mom....especially in Colorado.

As always thanks for the insights.

lrprn

01-19-2007, 10:49 AM

Here's a link to Colorado bk exemptions - http://www.bankruptcyinformation.com/CO_exemp.htm . The car exemption states: "Motor vehicles used for work to $3,000 ; to $6,000 to get medical care, if elderly or disabled".

Question is will your trustee consider caring for your children 'work' or not? Stay-at-home moms still have to get to the grocery store, drop kids off at school, and have a car available in case there's an emergency. This is a good question to ask your lawyer if you've retained one or during your free bk lawyer consultations. Please keep us posted on what you find out!



	Bankruptcy Forum > Before the Discharge > Exemptions > Coloardo Car Exemption PDA Coloardo Car Exemption AreSoonParted 01-19-2007, 06:29 AM Hello All, We're a few months away from a Ch7 in Colorado. We currently own 2 cars each of which has less than 3000 in equity. My car is used for transportation to work. My wife stays at home and watches our 5 kids. I think the Colorado car exemption is for 3000 if the car is used for work. I was just wondering if anyone out there has experience in exempting a car used by a stay at home mom....especially in Colorado. As always thanks for the insights. lrprn 01-19-2007, 10:49 AM Here's a link to Colorado bk exemptions - http://www.bankruptcyinformation.com/CO_exemp.htm . The car exemption states: "Motor vehicles used for work to $3,000 ; to $6,000 to get medical care, if elderly or disabled". Question is will your trustee consider caring for your children 'work' or not? Stay-at-home moms still have to get to the grocery store, drop kids off at school, and have a car available in case there's an emergency. This is a good question to ask your lawyer if you've retained one or during your free bk lawyer consultations. Please keep us posted on what you find out!