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What is the Vehicle Exemption in Bankruptcy in Colorado?

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Under Colorado law, people who file bankruptcy are allowed to keep certain property.  This property is “exempt” from being used by the trustee to pay the person’s debts.

Colorado Revised Statute 13-54-102(j) allows debtors to exempt $5,000.00 in value or equity in a vehicle.  An elderly or disabled person can exempt up to $10,000.00.

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