What is exempt from bankruptcy in Wyoming?

Under Wyoming laws, there are certain types of debt that can be included in bankruptcy and there are certain types of debt that are exempt from bankruptcy protection. 

Debts that you may include when you file a Wyoming bankruptcy include:

• Credit card debts
• Personal loan balances due
• Any medical debts or unpaid medical bills

Debts that you may not include when you file a Wyoming bankruptcy, or debts that are exempt from protection, include:

• Student loan debt (except in very rare circumstances where repaying your student loan debts is viewed as an "undue" burden. This usually only happens if you've been rendered permanently disabled and unable to work.)
• Back child support payments 
• Unpaid back tax debt

You will also need to consider what property is exempt from seizure if you are filing a chapter 7 bankruptcy. Property that is exempt from being seized and used to repay creditors includes:

• Up to $10,000 in equity in property for real property or $6000 in a mobile home (or $20,000/$12,000 if you are married)
• Retirement accounts
• Up to $2000 in personal property per person in the household
• Public benefits
• Prepaid funeral expenses, including your burial plot
• Up to $1000 in value of clothing or a wedding ring up to $1000
• A car worth $2000 or less

These type of exemptions do not apply in chapter 13, since you will not have to turn over any assets for this type of bankruptcy. To determine what results your bankruptcy will have on your debt and assets, and to get help deciding which chapter of bankruptcy you can file, you should strongly consider speaking with an experienced bankruptcy attorney.