{"id":286884,"date":"2021-04-15T14:05:27","date_gmt":"2021-04-15T19:05:27","guid":{"rendered":"https:\/\/ability-fl-prod.internetbrands.com\/ability-law\/bankruptcy\/bankruptcy-laws-by-state\/wyoming-bankruptcy-exemptions-and-law.html"},"modified":"2026-08-04T16:33:01","modified_gmt":"2026-08-04T21:33:01","slug":"wyoming-bankruptcy-exemptions-and-law","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/bankruptcy\/bankruptcy-laws-by-state\/wyoming-bankruptcy-exemptions-and-law.html","title":{"rendered":"Wyoming Bankruptcy Exemptions and Law"},"content":{"rendered":"\n
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Wyoming Bankruptcy Exemptions and Law<\/h1>\n\n
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\n By Susan Buckner, J.D.<\/a> | Legally reviewed by Catherine Hodder, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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Key Takeaways<\/h2>\n

Wyoming<\/span> bankruptcy<\/span> laws<\/span> give residents the chance to clear their debts while protecting their homes and exempt assets. If you need to file bankruptcy in Wyoming<\/span>, you can exempt your homestead and your personal property<\/span> from forced sale during the bankruptcy proceedings. This leaves you with something to start over with after the bankruptcy judge discharges your debt.<\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n\n

Wyoming<\/span> state law provides the exemptions that residents must use during the bankruptcy process<\/span>. Although the U.S. Bankruptcy Code<\/span><\/a> contains a list of exemptions, they do not apply in Wyoming<\/span>. Most other aspects of a Wyoming<\/span> bankruptcy<\/span> are governed by federal law<\/span>.<\/p>\n

To qualify for a Wyoming<\/span> bankruptcy<\/span>, you must have resided in Wyoming<\/span> for 730 days (two years) prior to filing for bankruptcy. If you have not lived in Wyoming<\/span> that long, you must use your previous state of residence or use the Federal exemptions.<\/p>\n

To file bankruptcy, you must complete a credit counseling<\/span> course within 180 days of filing for bankruptcy. You can find a list of approved credit counseling<\/span> agencies at the federal Bankruptcy Trustee<\/span> webpage<\/a>. Classes can be taken online and take a few hours to complete. After bankruptcy discharge, you will also need to take a financial management class.<\/p>\n

The filing fees<\/span> are $338 for a Chapter 7 and $313 for a Chapter 13. You can request an installment<\/span> payment plan or file a fee waiver if you cannot pay in full at the time of filing.<\/p>\n

Types of Bankruptcy<\/span> in Wyoming<\/span><\/h2>\n

Most people in Wyoming<\/span> file one of two types of consumer bankruptcy: Chapter 7 or Chapter 13. Both types protect your home and property, but they differ in how your debt is discharged and how you pay your creditors.<\/p>\n

Chapter 7 Bankruptcy<\/span><\/h3>\n

In a Chapter 7 or liquidation<\/span> bankruptcy<\/a>, a bankruptcy trustee<\/span> sells your non-exempt property<\/span> and pays off your unsecured creditors. Any remaining debt is discharged by the bankruptcy judge.<\/p>\n

To qualify for a Chapter 7, you must pass a means test<\/span><\/a>. If your annual income is less than the median annual income in Wyoming<\/span>, you automatically qualify for a Chapter 7. If you make more, the court considers your monthly income and living expenses versus your total debt. If you have enough disposable income to make monthly payments<\/span> to your creditors, you must file a Chapter 13 instead.<\/p>\n

After a Chapter 7, you will still have your secured debts. A Chapter 7 only eliminates unsecured debt<\/span> such as medical bills, credit card debt<\/span>, and personal loans.<\/p>\n

Chapter 13 Bankruptcy<\/span><\/h3>\n

In a Chapter 13 bankruptcy<\/span><\/a>, also known as a \u201creorganization,\u201d you and the trustee create a monthly repayment plan<\/span>. The trustee will help consolidate your debt and use your monthly payments<\/span> to pay off your creditors over a three- to five-year period. To qualify for a Chapter 13, you must have a steady income and enough disposable income to pay your living expenses and your monthly payments<\/span>. If you stay current on your payments, the judge will usually discharge any remaining deficiencies at the end of the repayment period.<\/p>\n

After a Chapter 13, you should not have any remaining debts. The purpose of the repayment plan<\/span> is to pay off all secured creditors.<\/p>\n

Automatic Stay<\/span><\/h3>\n

Both types of bankruptcy<\/span> provide an automatic stay<\/span><\/a>. This halts all legal action after you file your bankruptcy petition<\/span>. The automatic stay<\/span> prevents all collection actions, including:<\/p>\n