Wyoming Bankruptcy Laws

Find a Wyoming Bankruptcy Attorney

If you are a Wyoming resident and are thinking of filing bankruptcy a Wyoming bankruptcy attorney will discuss all of your options with you.

Learn, with the help of a Wyoming bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is the right option for you.

For a meeting with a local Wyoming bankruptcy attorney simply fill out the form on this page.

Bankruptcy Law and Wyoming Exemptions

In your first consultation with your Wyoming bankruptcy attorney you will go over all of the key differences between Chapter 7 and Chapter 13 bankruptcy.

During this meeting your Wyoming attorney will ask you many personal finance questions or provide you with a profile sheet to list specific financial details. Your answers will assist you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is the correct step for you.

Chapter 7 bankruptcy is also called liquidation since the bankruptcy trustee may choose to sell or auction non-exempted property (see State Exemptions list below).

In most of Chapter 7 bankruptcy cases, the individual filing bankruptcy does not own non-exempt property, so this would not apply to most filings. If you do not own much property or have many assets Chapter 7 bankruptcy may be the best choice, as you are allowed to discharge most of your unsecured debt.

Before you file Chapter 7 bankruptcy please review your finances with a Wyoming bankruptcy attorney to figure out exactly how much property may be exempt from liquidation.

Wyoming State Exemptions

Federal bankruptcy exemptions not available in Wyoming.

Homestead

RReal or personal property up to $10,000 in value.

Wages

75 percent of earnings.

Automobiles

One motor vehicle worth up to $2,400.

Personal Property

1. Up to $1,000 in clothing.
2. Up to $2,000 in furniture. If more than one person occupies a residence, they are each entitled to a separate exemption.
3. All books.
4. Burial plot.
5. Up to $2,000 in tools of the trade.

Chapter 13 Bankruptcy is also known as “reorganization”. Those filing Chapter 13 may own more property and by filing Chapter 13 may also retain most of their assets.

In Chapter 13 bankruptcy, the filer writes a proposal for a repayment plan for a term of 3 to 5 years, which must be approved by a bankruptcy court. This agreement allows the debtor to repay existing bills in a manageable and structured manner.

Speak With a Wyoming Bankruptcy Attorney Today

Have you ever considered filing bankruptcy in Wyoming but have not because you were not sure where to begin or felt the process was too complicated?

To lighten your worries about bankruptcy laws, a Wyoming bankruptcy attorney will be able to walk you through the bankruptcy process in common sense terms. When you meet with a Wyoming bankruptcy attorney you will also be able to have many of your questions and concerns answered in the first meeting.

Take the inconvenience out of finding a Wyoming bankruptcy attorney yourself. Just fill out our bankruptcy questionnaire on this page and we will direct you to a Wyoming bankruptcy attorney in your locality.

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