Wyoming Laws on Wage Garnishments, Statute of Limitation on Debt, and Bankruptcy Property Exemptions
WAGE GARNISHMENT EXEMPTION: Federal law applies
MAXIMUM INTEREST RATE: Legal: 7% Judgment: 10% or contract rate
STATUTE OF LIMITATIONS FOR ENFORCEMENT:
Open Account (credit card): 8 years
Written Contract: 10 yearsDomestic Judgment: 5 yearsForeign Judgment: 5 yearsBAD CHECK LAW DAMAGES: Twice the amount of check plus collection costs and attorney's fees
WYOMING BANKRUPTCY PROPERTY EXEMPTIONS (Wyoming Statutes Annotated):
Cannot use federal exemptions, but can use the federal non-bankruptcy exemptions
The State of Wyoming has exempted property and income below from seizure by the bankruptcy court to pay creditors:
Real Property: Real property used as residence to $10,000, but $20,000 if jointly owned OR mobile trailer used as residence up to $6,000, but $12,000 if house trailer jointly owned [1-20-101, 1-20-102 and 1-20-104]
Personal Property: Clothing and wedding rings up to $1,000 [1-20-105]; bibles and schoolbooks, pictures, unlimited amount [1-20-106(a)(i)]; burial plot, unlimited amount [1-20-106(a)(ii)]; furniture and household goods, bedding and food up to $2,000 per person in house [1-20-106(a)(iii)]; motor vehicle up to $2,400 [1-20-106(a)(iv)]; library and equipment of professional up to $2,000 and tools, motor vehicle, implements, team and stock in trade used in business or trade up to $2,000 [1-20-106(b)]; prepaid funeral contracts, unlimited amount [25-32-102]
Insurance / Annuities: Group life or disability policy or proceeds, unlimited amount [26-15-131]; life insurance proceeds if held in trust by insurer and if proceeds cannot be used to pay creditors, unlimited amount [26-15-133]; fraternal society benefits, unlimited amount [26-29-218]; disability benefits if policy prohibits proceeds from being used to pay creditors, unlimited amount [26-15-130]; annuity proceeds to $350 per month [26-15-132]
How to Deal with Debt Collectors
Federal and State Laws Regarding Debt Collection
State Laws Regulating Wage Garnishments
Pensions / Retirement Plans: Private and public retirement accounts, unlimited amount [1-20-110]; public employees, unlimited amount [9-3-426]; criminal investigators, game and fish wardens and highway patrol, unlimited amount [9-3-620]; firefighters and police officers, payments being received [15-5-209];
Public Benefits / Entitlements: Unemployment compensation, unlimited amount [27-3-319]; workers' compensation, unlimited amount [27-14-702]; general assistance and aid to families with dependent children, unlimited amount [42-2-113]; crime victims' compensation, unlimited amount [1-40-113]
Wages: 75% earned but unpaid wages [1-15-511]; wages of work release prisoners [7-16-208]; earnings of National Guard members [19-9-401]
Miscellaneous: Liquor licenses, unlimited amount [12-4-604]
