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Maverick
Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5766
Experience:  20 years of professional experience
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Need a complete and definitive answer on the issue of Colorado

Customer Question

Need a complete and definitive answer on the issue of Colorado 13-54-102 J (I) regarding Property Exemptions for bankruptcy. All references I find online to Colorado exemptions indicate this reads as "one or more vehicles.......kept and used for work....or kept and used for transportation to work in the aggregate value of five thousand dollars. The actual statute though reads only "kept and used". I am unemployed and intend to file. Can I keep my car if it is under the exempt value or not?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Maverick replied 6 years ago.

(j) (I) One or more motor vehicles or bicycles kept and used by any debtor in the aggregate value of five thousand dollars; or

I would go with what the 2009 Co Revised Statute reads, which is shown above. I do not see any requirement that it be used for work.

Also, just as a tip, I do not see where you have to actually file BK to claim the exemption.

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Customer: replied 6 years ago.

The answer was of course as expected, the language in the 2009 revised statute removing references to using the vehicle for work purposes seemed to be unambiguous. I just felt better spending 18.00 to hear it from somebody else as I could always find a temporary job to protect my interest in the vehicle.

Thanks

Expert:  Maverick replied 6 years ago.
Sure.

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