Wyoming Bankruptcy Laws

Wyoming bankruptcy laws allow the debtor declared as bankrupt to use federal supplemental exemptions along with the state specific exemptions. However, you cannot substitute the state specific exemptions completely with the federal exemptions set. Wyoming bankruptcy district courts are located in two places – Casper and Cheyenne.

Properties Exemptions Under The Wyoming Bankruptcy Laws

As per the Wyoming bankruptcy laws, following are the properties and their specific details that can be exempted by the debtor declared as bankrupt, by any of the Wyoming bankruptcy district courts.

•The Homestead Exemptions include any real property that you occupy up to ten thousand dollars. As per the Wyoming bankruptcy laws, you can also claim for any house trailer that you occupy but only up to six thousand dollars.
•Wyoming is among those few states, where the Annuity contract proceeds are also included in the Insurance Exemptions. The amount exemptible is 350 dollars per month.
•Other insurance exemptions include group life or disability policy or proceeds, fraternal benefit, society benefits, and disability benefits.
•The Wyoming bankruptcy laws have specifically declared the liquor licenses and malt beverage permits, as exemptible under the miscellaneous exemptions. The amount exemptible is not mentioned.
•Personal properties exemptions include bedding, furniture, and household articles and the amount exemptible is two thousand dollars in total.
•You can also claim Clothing and wedding rings needed for exemptions up to one thousand dollars.
•Motor vehicle is also allowed for exemption up to two thousand dollars.
•Pension funds are also allowed for exemption, under the Wyoming bankruptcy laws, but only the following individuals are eligible for such exemptions:
◦Public employees
◦Game and fish wardens
◦Police officers
◦Criminal investigators
◦Highway officers
•Earnings of National Guard members have also been declared as exemptible wages as per the Wyoming bankruptcy laws.
•Public benefit exemptions include workers’ compensation, unemployment compensation, crime victims’ compensation, and general assistance.
•As per the Wyoming bankruptcy laws, you can claim for any Wild Card exemptions.