Understanding Chapter 13 Bankruptcy in Wyoming

The amount you pay each month is determined by your monthly disposable income. The Wyoming Bankruptcy Court will not order you to pay more than you can reasonably afford, but you won’t be allowed to include non-essential expenditures such as college expenses for children, boats, off-road vehicles, or a third vehicle.

• 75% of net wages due on the bankruptcy filing date
• 100% of Social Security income or disability income
• 100% of Worker’s Compensation benefits
• Life insurance or disability insurance monthly benefit payments
• Cash surrender value of most life insurance policies

Your completion of the worksheets, production of documents, and participation in the closing require your best effort and full candor to ensure accurate, truthful, and complete disclosure about your financial affairs, assets, and debts. Anything less may put you at risk of not receiving a discharge or having your discharge revoked.

You should not use any part of your tax refund to repay loans extended by family members. The Bankruptcy Code defines such a repayment as a “preference” if made within 12 months of your bankruptcy filing. If there is a preference, you or your family member must pay the amount to the Chapter 7 trustee. However, you may make payments to family members after your Chapter 7 bankruptcy has been filed.