Wyoming Bankruptcy Exemptions 2020

3,722 families have filed bankruptcy using Upsolve. Learn More.

Written by Upsolve Team.  
Updated July 2, 2020

Summary

It's important to understand what the exemptions for Wyoming are and how they're most often used in a bankruptcy case.

How Do Exemptions Work?

When you file for Chapter 7 bankruptcy, one of the biggest questions is whether or not you will be able to keep your property.

That depends on which property exemptions you can use on your bankruptcy forms. They are called exemptions because they “exempt” -- or “excuse” -- certain property from being taken. In most cases, exemptions protect most day-to-day items that you own, unless you have expensive property like a house or a car.

Certain exemptions protect entire categories of property like retirements accounts, regardless of value. Other exemptions only protect specific property like a vehicle up to a certain value.

If you're looking for a deep understanding of bankruptcy exemptions, read this article.

Does Wyoming allow federal exemptions?

Wyoming does not recognize the federal exemptions.

Every state has its own set of property exemptions. And some states also allow you choose between their exemptions and a set of federal bankruptcy exemptions. When they do, they will generally let you to choose the system that is the best fit for you. Although some states allow you to use the federal bankruptcy exemptions, others do not.

Wyoming Exemptions

11 U.S.C. § 522(b)(3)(C)

Most people use 11 U.S.C. § 522(b)(3)(C) to cover tax exempt retirement accounts. For single debtors filing, it has no coverage limit.

5 U.S.C. §§ 8437(e)(g), 11 U.S.C. § 541(c)(2)

Most people use 5 U.S.C. §§ 8437(e)(g), 11 U.S.C. § 541(c)(2) to cover thrift savings plan. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 1-15-511; Wyo. Stat. § 1-15-408; Wyo. Stat. § 40-14-505; In re Walsh, 96 P.3d 1 (Wyo. 2004)

Most people use Wyo. Stat. § 1-15-511; Wyo. Stat. § 1-15-408; Wyo. Stat. § 40-14-505; In re Walsh, 96 P.3d 1 (Wyo. 2004) to cover wages - 75% or 30 times federal min wage. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 1-20-105

Most people use Wyo. Stat. § 1-20-105 to cover wearing apparel. For single debtors filing, it has a coverage limit of $2,000.

Wyo. Stat. § 1-20-105

Most people use Wyo. Stat. § 1-20-105 to cover wedding rings. For single debtors filing, it has a coverage limit of $2,000.

Wyo. Stat. § 1-20-106

Most people use Wyo. Stat. § 1-20-106 to cover firearms (max three) and ammunition. For single debtors filing, it has a coverage limit of $3,000. This exemption has a limit to the number of assets it can cover.

Wyo. Stat. § 1-20-106 (a)(i)

Most people use Wyo. Stat. § 1-20-106 (a)(i) to cover books, bible, pictures. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 1-20-106 (a)(iii)

Most people use Wyo. Stat. § 1-20-106 (a)(iii) to cover household goods and furnishings. For single debtors filing, it has a coverage limit of $4,000.

Wyo. Stat. § 1-20-106 (a)(iv)

Most people use Wyo. Stat. § 1-20-106 (a)(iv) to cover motor vehicle. For single debtors filing, it has a coverage limit of $5,000.

Wyo. Stat. § 1-20-106 (b)

Most people use Wyo. Stat. § 1-20-106 (b) to cover tools of trade. For single debtors filing, it has a coverage limit of $4,000.

Wyo. Stat. § 1-20-110

Most people use Wyo. Stat. § 1-20-110 to cover private or public retirement accounts. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 1-20-110

Most people use Wyo. Stat. § 1-20-110 to cover ira & roth ira. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 1-40-113

Most people use Wyo. Stat. § 1-40-113 to cover crime victims' compensation. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 12-4-604

Most people use Wyo. Stat. § 12-4-604 to cover liquor licenses and permits. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 15-5-209

Most people use Wyo. Stat. § 15-5-209 to cover firefighters' pensions. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 15-5-313 (c)

Most people use Wyo. Stat. § 15-5-313 (c) to cover police pensions. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 26-15-129

Most people use Wyo. Stat. § 26-15-129 to cover life insurance proceeds. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 26-15-130

Most people use Wyo. Stat. § 26-15-130 to cover disability benefits (if clause prohibits). For single debtors filing, it has no coverage limit.

Wyo. Stat. § 26-15-131

Most people use Wyo. Stat. § 26-15-131 to cover life insurance (group). For single debtors filing, it has no coverage limit.

Wyo. Stat. § 26-15-132

Most people use Wyo. Stat. § 26-15-132 to cover annuities - $350 per month. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 26-15-133

Most people use Wyo. Stat. § 26-15-133 to cover life insurance (if clause prohibits). For single debtors filing, it has no coverage limit.

Wyo. Stat. § 26-29-218

Most people use Wyo. Stat. § 26-29-218 to cover fraternal benefit. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 27-14-702

Most people use Wyo. Stat. § 27-14-702 to cover workers' compensation. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 27-3-319

Most people use Wyo. Stat. § 27-3-319 to cover unemployment compensation. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 42-2-113 (b)

Most people use Wyo. Stat. § 42-2-113 (b) to cover public assistance. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 9-3-426

Most people use Wyo. Stat. § 9-3-426 to cover public employees. For single debtors filing, it has no coverage limit.

Wyo. Stat. § 9-3-426

Most people use Wyo. Stat. § 9-3-426 to cover criminal investigators, highway patrol. For single debtors filing, it has no coverage limit.

It's easy to get help

Choose one of the options below to get assistance with your bankruptcy:
Page 1Created with Sketch.

Free Web App

Take our bankruptcy screener to see if you're a fit for Upsolve's free web app!

Take Screener
3722 families have filed with Upsolve! ☆
OR

Private Attorney

Get a free bankruptcy evaluation from an independent law firm.

Find Attorney
2654 people found attorneys this month

Upsolve is a 501(c)(3) nonprofit that started in 2016. Our mission is to help low-income families who cannot afford lawyers file bankruptcy for free, using an online web app. Spun out of Harvard Law School, our team includes lawyers, engineers, and judges. We have world-class funders that include the U.S. government, former Google CEO Eric Schmidt, and leading foundations. It's one of the greatest civil rights injustices of our time that low-income families can’t access their basic rights when they can’t afford to pay for help. Combining direct services and advocacy, we’re fighting this injustice.

To learn more, read why we started Upsolve in 2016, our reviews from past users, and our press coverage from places like the New York Times and Wall Street Journal.

Close

Considering Bankruptcy?

Are you interested in erasing your debt with our free self-service bankruptcy tool?


Not interested in our tool or confused? Can you let us why so we can improve?

File Bankruptcy in Wyoming