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Have to file a chapter 7 bankruptcy, What about parrots as…

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Have to file a chapter...
Have to file a chapter 7 bankruptcy, What about parrots as pets...no breeding...no breeding involuled. Also have 4 vehicles Chev p/u 2009, Chev p/u 89, Ford p/up 85, Dodge 74 sedan. Need three vehicles for work dependence as my wife and myself work approx. 50 miles away at independently locations. Seperate jobs
Submitted: 7 years ago.Category: Bankruptcy Law
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Answered in 5 minutes by:
7/24/2010
Bankruptcy Lawyer: Ellen, Attorney replied 7 years ago
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36,715
Experience: Bankruptcy Lawyer. Experienced.
Verified
Hello,

I am the JustAnswer expert that will be helping you today. I am a lawyer with 25 years experience. Although I am not your attorney, I hope that I can give you helpful legal information.

In a chapter 7 bankruptcy a debtor is required to value all property at market value. This means the value that a third-party would be willing to pay for the property. It does not mean the value to the debtor personally. Therefore although no exemption exists for your pet parrots, provided those parents do not have a value on the open market it is unlikely that the trustee will claim an interest in them for the benefit of creditors

Colorado law permits a $3000 vehicle exemption per debtor for a vehicle that is used for work. There would be no exemption for 3rd vehicle.

Here are the exemptions for Colorado:
http://www.bankruptcyinformation.com/Co_exemp.htm

Good luck
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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