CO/ Chap 7. Schedule C-Property claimed as exempt---LOST

[shellyp]

I am filing pro se, chapter 7 in CO.

Stuck on Schedule C-Property Claimed as exempt, please help.

Have 2 cars:
van- nothing owed, worth about 2k
truck-owe $18k, worth 11k. possibly will reaffirm, undecided yet as I may go with 722.

What do I put on this page?

I know the 5k exemption rule has something to do with this page.

[tcreegan]

Hi shellyp! Fellow Coloradoan here!

Here is what you need for Schedule C:

Go to www.michie.com/colorado/ anc select Colorado Revised Statutes and go to 13-54-102 Property Exempt

On Sched C, you put all your property in one of the categories and under "specify law" column, put 13-54-102(1)(a) or whatever category you are on

Example:
Vehicles would be listed in the first column and in column "specify law" you would put 13-54-102(1)(j)(I)

Van 13-54-102(1)(j)(I) $2,000 $2,000 (of course you need a better description than 'van')

Now the truck has no equity, so you have no exempt property. It goes on Sched. D

truck-owe $18k, worth 11k. possibly will reaffirm.....why? Right now it is worth negative 7 thousand dollars....

undecided yet as I may go with 722. ...lost me here, what does this mean?

The good news for you is that our BK court is pretty friendly and if you get D.H. as your trustee, he is really laid back.

Since you are pro-se, have you heard of the NOLO book? Basically a step-by-step guide to filing a BK, go to www.nolo.com

Hang in there with the paperwork, you eventually get through it...

Tom in Colo