Wyoming Bankruptcy Laws
Wyoming has one bankruptcy district: Wyoming Bankruptcy Court with two locations in Casper and Cheyenne. The court serves the entire state of Wyoming.
Wyoming Bankruptcy Exemptions
Exemptions are laws passed by every state that allow you to protect certain types of your property from your creditors when you file chapter 7 bankruptcy. According to Lawyers.com, under Wyoming bankruptcy laws, you may generally keep:
- Homestead to $10,000 per resident
- Mobile home homestead to $6,000
- 75% of weekly disposable earnings
- Clothing and wedding ring to $1,000
- Family Bible, pictures and school books
- Lot in cemetery or burial ground
- Furniture, bedding, provisions and other household articles to $2,000
- Motor vehicle to $2,400
- Tools of trade or professional library to $2,000
- Interest in retirement plan, pension or annuity
- Crime victims compensation
- Earnings of inmate from work release employment
- Certain retirement benefits
- Life insurance proceeds
- Disability insurance proceeds
- Group insurance proceeds
- Annuity contract proceeds to $350 per month
- Unemployment compensation
- Worker's compensation benefits
- Cemetery property
- Public assistance and social services
NOTE: These are the major bankruptcy exemptions. Check with your bankruptcy lawyer for a full exemptions list.
New Bankruptcy Law Changes - Outlines major changes you should know about in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), also known as the new bankruptcy laws.
This is important! The new bankruptcy law requires all debtors to fulfill two education requirements: a credit counseling course prior to filing and a financial management course before obtaining a discharge. Failure to complete either of these courses and file the appropriate certificates with the court will prevent a successful bankruptcy. The Chapter 13 Trustee will offer the required courses to Chapter 13 debtors, but Chapter 7 debtors are required to take the courses on their own.
Find a U.S. Trustee Approved Pre-Bankruptcy Counseling Provider and Post-Filing Debtor Education Provider.
|
