Wyoming Chapter 12 Discharge

• Category: Wyoming Federal - Official - District Court - General
• State: Wyoming
• Control #: WY-BKR-3180F
• Format: PDF

Description

Chapter 12 Discharge Wyoming Chapter 12 Discharge is a type of bankruptcy relief for family farmers and fishermen. It allows for the restructuring of debts, and the elimination of certain debts through a repayment plan supervised by the court. The repayment plan must be approved by both the debtor and the creditors, and must provide for the gradual repayment of the debt over a 3-5 year period. Once the repayment plan is approved, the court will issue a discharge of all debts covered by the plan, which relieves the debtor of any further obligation to pay the debts. There are four types of Wyoming Chapter 12 Discharge: full discharge, partial discharge, conditional discharge, and no discharge. A full discharge relieves the debtor of all obligations to pay the covered debts and interest. A partial discharge discharges some, but not all, of the debt and interest. A conditional discharge discharges the debt and interest only if certain conditions are met. A no discharge is when the court does not discharge the debt and interest.

Wyoming Chapter 12 Discharge is a type of bankruptcy relief for family farmers and fishermen. It allows for the restructuring of debts, and the elimination of certain debts through a repayment plan supervised by the court. The repayment plan must be approved by both the debtor and the creditors, and must provide for the gradual repayment of the debt over a 3-5 year period. Once the repayment plan is approved, the court will issue a discharge of all debts covered by the plan, which relieves the debtor of any further obligation to pay the debts. There are four types of Wyoming Chapter 12 Discharge: full discharge, partial discharge, conditional discharge, and no discharge. A full discharge relieves the debtor of all obligations to pay the covered debts and interest. A partial discharge discharges some, but not all, of the debt and interest. A conditional discharge discharges the debt and interest only if certain conditions are met. A no discharge is when the court does not discharge the debt and interest.