The cost of filing bankruptcy in Wyoming may seem straightforward at first glance, but it's a bit more complicated. In 2024, the filing fee for a Chapter 7 bankruptcy is $338, while a Chapter 13 bankruptcy costs $313. However, there are additional factors to consider, such as whether you choose to hire a bankruptcy attorney and if you qualify for fee waivers.
We've done some digging and can give you a ballpark estimate of attorney fees in Wyoming. We spent around $1,000 on PACER, a public records database, and found that Chapter 7 attorney fees can range from $1,170 to $1,500. Keep in mind, though, that this is just an estimate. If you want a more precise figure based on your exact location in Wyoming, we've got a free bankruptcy cost calculator for you to use.
If you're anything like me, you're probably wondering how you can afford bankruptcy in Montana, especially when it's already tough to pay the bills, with interest rates and inflation still causing headaches in 2024. Sure, some bankruptcy costs like filing fees and credit counseling courses are pretty similar across the board. But when it comes to attorney fees, they can vary wildly depending on whether you're in Cheyenne or Casper.
The purpose of this article is to break down the estimated all-in costs for you. We'll cover two main categories: bankruptcy attorney fees and bankruptcy filing costs.
Estimate the All-In Bankruptcy Cost in Your Zip Code
We've been getting a ton of questions about the cost of bankruptcy in Wyoming. So, we went ahead and created a database of attorney fees just for you. Now, you can easily estimate how much bankruptcy might set you back in your city in Wyoming. To get an estimate tailored to your specific location, all you need to do is enter your zip code below.
1. Actual Lawyer Costs By District In Wyoming
We've already discussed a range of bankruptcy fees in our postings for various scenarios. There are a few additional factors that will impact the total when bankruptcy is considered. The location of the bankruptcy lawyer, the intricacy of the case, and the level of experience of your lawyer are a few examples. Geographical location also plays a significant role in determining prospective costs. The essay that follows is one that we wrote to explain the costs in your location and walk you through the process. Let's examine more closely at the real expenses that were revealed in the filing information provided by Pacer.
Wyoming District
Covering a substantial area, the District of Wyoming includes major cities like Cheyenne, Casper, and Laramie. Operating within the Mountain Time zone, this district spans 23 counties. It features a central courthouse in Cheyenne and additional court facilities throughout the district, overseen by 2 active district judges and 1 magistrate judge. The diverse economic activities and dynamic communities in Wyoming's District contribute to the overall richness of the region.
For residents in proximity to these major areas within Wyoming's District, the expected bankruptcy filing cost can vary, often falling within a range from $1,800.00 to $1,862.00. It's crucial to bear in mind that this is an estimate, and actual expenses may fluctuate based on factors such as your financial situation and the choice of legal representation.
2. Chapter 13 Bankruptcy Attorney Fees Wyoming
Chapter 13 bankruptcy attorneys in Wyoming might charge around $3,500. The actual fee can vary depending on the district you're in. Now, when it comes to Chapter 7 attorney fees, there's more variability. However, for Chapter 13, many attorneys charge similar fees called "no-look fees." These fees are considered reasonable for the services provided. But here's the thing, you should still check if the attorney charges an hourly rate for any extra work done after filing for Chapter 13. It's always good to be aware of any additional costs that may come up.
3. Bankruptcy Filing Costs
Bankruptcy filing costs are pretty much the same all over the United States, not just in Wyoming. So, if you're thinking about filing for bankruptcy, it's important to know about the other costs involved. Let's take a look at what you need to consider.
Bankruptcy Filing Fees
The US Courthouse has a fee schedule and bankruptcy forms that lays it all out for you.
Now, if you're going for Chapter 7 bankruptcy, the filing fee is $338. That's broken down into a $245 filing fee, a $78 administrative fee, and a $15 trustee surcharge.
If Chapter 13 bankruptcy seems more like the way to go, the filing fee is a bit lower at $313. That includes a $235 filing fee and a $78 administrative fee. And in other cases, you might even be able to get the fee waived altogether.
Wyoming Filing Fee Waiver Guidelines
If you're thinking about filing for Chapter 7 bankruptcy, you might be eligible to have your filing fees waived if your income falls below 150% of the poverty guidelines in Wyoming. Be sure to check out Chapter 7 Bankruptcy Wyoming Income Limit.
Mandatory Course Costs
When you're in a tough financial spot and decide to file for bankruptcy, there are a couple of courses you need to take in Wyoming. You can usually complete these courses online, which is super convenient. But before you jump in, there's something you should know - these courses have to be approved. Be sure to look at the list of approved credit counseling courses and debtor education courses in Wyoming. The courses usually cost between $10 and $50 each. So, you can plan your budget accordingly.
Miscellaneous Costs
If you've got a meeting of creditors coming up at the courthouse, it's important to know that you might have to shell out some cash for transportation to get there. On top of that, you might also have to cover the cost of a credit report for your attorney. Your attorney might be able to lend a hand with getting that credit report sorted. Let's talk numbers. You're probably wondering how much this whole transportation thing is gonna set you back.
We’ve made it easier for you to figure that out by hovering over to your district using this interactive map below showing bankruptcy courthouses in Wyoming by division and looking up your nearest bankruptcy court.
Will Inflation Affect the Cost To File Bankruptcy in Wyoming?
As of December 1st, 2020, the Chapter 7 bankruptcy filing fee was bumped up from $335 to $338, while the Chapter 13 bankruptcy filing fee increased from $310 to $313. Now, these changes are pretty minimal, so it's unlikely that they'll have a major negative impact on you. However, when it comes to attorney fees, things might be a bit different. Inflation can lead to higher costs for bankruptcy attorneys. They might have to shell out more money to their employees and deal with the rising costs of living, especially if they're based in cities like Casper or Laramie, or anywhere else in Wyoming. So, while the filing fee increase might not be a big deal, you might see some inflation-related effects on attorney fee costs. It's something to keep in mind if you're considering hiring a bankruptcy attorney shortly.
Would My Bankruptcy Cost Be Higher Cheyenne Than Laramie?
You might be wondering whether it's better to hire a local attorney or head to a bigger city like Casper to save on bankruptcy costs. Now, Cheyenne takes the crown for having the highest population in Wyoming with a whopping 63,957 residents. So, you might assume that bankruptcy attorney fees would be higher there compared to a smaller city like Laramie.
While the cost may indeed be higher in Cheyenne, there's also a higher chance of finding more bankruptcy attorneys in the area. And what does that mean? Well, my friend, it means more competition, which can lead to some pretty sweet price drops. So, believe it or not, you might find that the total cost of filing for bankruptcy, including those attorney fees, could be much higher in your city than in Cheyenne.
Most bankruptcy attorneys offer free consultations. You can get multiple perspectives without spending a dime. Our bankruptcy cost calculator below takes all these variables into account to give you an estimate of the all-in cost.
Why Do Some Attorneys Charge Higher Chapter 7 Bankruptcy Fees?
When it comes to Chapter 13 bankruptcy attorneys in Laramie, things are a bit different. They tend to charge a fixed amount called a "no-look fee." It's like a standard fee that covers their services. The real twist comes with Chapter 7 bankruptcy attorneys. Their fees can be all over the place. So, it's crucial to understand what you're paying extra for.
So, how do they determine this bankruptcy lawyer's costs? Well, it's a mix of factors. Let me break it down for you:
- First off, it depends on which chapter you're filing. Is it Chapter 7 or Chapter 13? That's the starting point.
- Next up, the complexity of your case plays a role. Are you dealing with a no-asset situation or an asset-filled one? The more complex, the higher the cost.
- Location, location, location! Where you're filing from matters too. Cheyenne or Casper? That can impact the price tag.
- Then, there's the level of connection with your attorney. Are they deeply invested in your case or just going through the motions?
- Lastly, the attorney's expertise comes into play. How many years of experience do they have under their belt? That can make a difference.
Let me give you an example to make things crystal clear. Imagine you're earning $10,000 more than the median income in Wyoming, and you still want to file for Chapter 7 bankruptcy. Well, in that case, the attorney will have to dig deeper into your expenses to determine if you qualify. And you know what that means? More time spent by the attorney equals a higher overall cost for your bankruptcy.
If you're curious to learn more about bankruptcy lawyer fees and how they work, I recommend checking out this article: Understanding Bankruptcy Lawyer Fees. It's always good to be informed before making any decisions, especially when it comes to something as important as your financial future.
Conclusion
I hope this article has shed some light on the costs associated with filing bankruptcy with the help of a bankruptcy lawyer. If you have any questions, feel free to reach out. And if you want to get an estimate of the bankruptcy costs specific to Wyoming, you can try out the free Wyoming bankruptcy cost calculator below.