Bankruptcy is a complex and interrelated area of law. One fact can change the answer, so these answers are general information, not legal advice for your specific situation. Use this page to understand the issues, then speak with Patrick M. Hunter about how Wyoming bankruptcy law applies to your facts.

Will I Be Allowed To File Bankruptcy?

Most people can file some kind of bankruptcy if they need relief, but eligibility depends on prior filings, recent dismissals, income, assets, debts, and whether the case is filed in good faith. Repeated recent filings, missed court obligations, or a failure to meet bankruptcy requirements can create problems.

Am I Eligible For Chapter 7 Bankruptcy?

Chapter 7 eligibility often begins with the means test. If household income is below the applicable median income, Chapter 7 may be available. If income is higher, a more detailed analysis of allowed expenses and disposable income is required. Prior bankruptcy discharges and recent dismissed cases can also affect eligibility.

Do I Have To Give Up All My Assets?

No. Bankruptcy is designed to give honest debtors a fresh start. Many people who file Chapter 7 keep exempt property, fully encumbered property, and property with little or no market value. The key is full disclosure and careful exemption analysis before filing.

Can I Keep My Home?

Whether a client can keep a home depends on equity, exemptions, liens, payment status, and the chapter filed. If equity is within the available exemption and payments remain current, many Chapter 7 debtors can keep their home. If there are arrears or non-exempt equity, Chapter 13 may be a better tool.

Can I Keep My Car?

Keeping a car depends on value, loan balance, exemption protection, and whether payments are current. If the car has little non-exempt equity and the client can maintain payments, keeping it may be possible. If payments are behind, a reorganization chapter may be needed to protect the vehicle.

Do I Have To List All My Debts?

Yes. Bankruptcy schedules must list all debts, including secured debts, non-dischargeable debts, debts the client wants to keep paying, and debts owed to family or friends. Leaving debts out intentionally can create serious problems, including loss of discharge or allegations of perjury.

Will Bankruptcy Stop Wage Garnishment Or Foreclosure?

A bankruptcy filing usually creates an automatic stay that stops most garnishments, lawsuits, and foreclosure activity at least temporarily. There are exceptions, especially for support obligations. Secured creditors may also ask the court for relief from the stay.

Are Taxes Dischargeable?

Some older income taxes and penalties can sometimes be discharged, while many recent taxes, payroll taxes, trust-fund taxes, and tax liens require closer analysis. Reorganization chapters may also help clients pay tax debt over time while addressing penalties and collection pressure.

Will Someone Come To My House?

In most cases, no one comes to the house to inspect property. Debtors are legally obligated to be complete and honest about assets, transfers, values, debts, and financial history. If information appears incomplete or dishonest, the trustee and court have tools to investigate.

If I Am Married, Do We Both Have To File?

No. One spouse may file without the other. The effect on the non-filing spouse depends on the debts, property ownership, state law, household income, and whether the couple has joint obligations. This issue should be reviewed before filing.

Will I Lose My Retirement?

Retirement assets are often protected, but the answer depends on the type of account and the facts. Retirement should always be disclosed and reviewed before filing.

Can I Put Property In Someone Else's Name?

Transferring property before bankruptcy can create major problems. Transfers must be disclosed, and the trustee may be able to undo them. A transfer intended to hide property can jeopardize the discharge.

What Happens To My Credit?

Bankruptcy affects credit, but it does not prevent future credit forever. Many debtors rebuild credit after discharge. The impact depends on the client's full financial picture before and after filing.

What If I Cannot Make Chapter 13 Payments?

Chapter 13 plans can sometimes be modified after confirmation if income drops or circumstances change. Options may include plan amendment, extension, conversion, dismissal, or other relief depending on the case.

Talk With A Wyoming Bankruptcy Lawyer

These answers are only a starting point. If you have questions about Chapter 7, Chapter 13, exemptions, garnishment, foreclosure, taxes, creditor rights, or whether bankruptcy fits your situation, call 307-235-1900 or message the firm online.

"Bankruptcy is a complex and interrelated area of the law. One simple fact can change everything."