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Legal debt elimination under Wyoming bankruptcy laws has been
severely
curtailed by the implementation of new law changes. To claim Wyoming
bankruptcy exemptions, the Code creates several hurdles for legal
compliance with Chapter 7 qualification tests. These new test are
collectively known by a new moniker - means testing - and must be
enforced by Wyoming Bankruptcy Courts. In essence, means testing limits
Chapter 7 access to only residents earning less than the median wage
level, who owe an inordinately large amount in unsecured debts, and
prove compliance with new debt comparison formulas designed to exclude
almost anyone who is currently employed.
If qualified under this new burden, debtors may only select the
provisions of the State of Wyoming bankruptcy exemptions.
See also: Wyoming Homestead Exemption.
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