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Coloardo Car Exemption

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    Coloardo Car Exemption

    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.

    #2
    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!
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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