Consumer Bankruptcy Lawyers in Casper, Wyoming

Find the right Consumer Bankruptcy attorney in Casper, WY

Bankruptcy allows an individual or business to get rid of some or all of its debt. Usually, bankruptcy should only be considered when the debt is completely unmanageable, impossible to pay off, and there are no other options. However, in some cases, the benefits of bankruptcy can considerably outweigh the costs. Bankruptcy is governed by federal law, and proceeds in federal courts. So, the procedure for filing for bankruptcy in Wyoming will be very similar to the procedure anywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local attorney in Casper, Wyoming before filing.

Chapter 7 Bankruptcy in Casper, Wyoming

In Casper, Wyoming, there are 2 typical forms of commonly-used consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 liquidates some of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many types of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and necessary personal items, like clothing. These assets are not available to creditors.

Once appropriate assets are sold, and the money turned over to the creditors, most remaining debt is excused. However, there are certain types of debt that cannot be excused in bankruptcy, including student loans, taxes, child support, and criminal fines. If most of your debt is non-dischargeable, it may not be a good idea to file for bankruptcy in Casper, Wyoming.

Chapter 13 Bankruptcy in Casper, Wyoming

In Casper, Wyoming, Chapter 13 is substantially different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your specific situation. Chapter 13 does not absolve any debt, but it creates a new payment plan that should give the debtor some breathing room. Usually, all of the debts are consolidated into 1 periodic payment. While this might make it take longer to pay off the debt, if the debtor is willing to make a few sacrifices, the plan should be manageable.

Which Type of Consumer Bankruptcy Should I File in Casper, Wyoming

This depends entirely on the facts of your specific case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

In any case, it would be a good idea to consult a local bankruptcy attorney in Casper, Wyoming. Your attorney can make an educated judgment as to what your best option is, and advise you accordingly (of course, the choice to file for bankruptcy is ultimately yours).

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Life in Casper

Casper is located in Natrona County, Wyoming. Surrounding areas include the Salt Creek Oil Field, Casper Mountain, Laramie Mountain Range and North Platte River. The city's nickname is "The Oil City" because it has a history of being known as an "oil boomtown."

Per the nickname, the economy greatly depends on oil. Crede oil was discovered in the 1890s in this region. Therefore, the top employer in the area is Sinclair Oil Corporation. Although not included in the top employers list, the legal force is also strong in Casper because there are many attorney-residents who actively practice and run small law offices. These offices provide personalized legal services and the attorneys are capable to handle every legal need of residents.

Popular attractions include the Fort Caspar Museum and Historic Site, the National Historic Trails Interpretive Center, Nicolaysen Art Museum, Tate Geological Museum, and Werner Wildlife Museum.

Overall, Casper is a wonderful place to visit and live!

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