The Wyoming Statement of Exemption from Presumption of Abuse Under 707(b)(2) is a legal document that can be used by debtors in the state of Wyoming to protect their assets from creditors in a Chapter 7 bankruptcy case. The statement allows a debtor to declare their assets exempt from the presumption of abuse, which is a legal concept that requires debtors to prove that their assets were not acquired through fraud or deception in order to keep them from creditors. The statement is an alternative to filing a bankruptcy petition and can be used to protect the debtor’s assets without filing for bankruptcy. There are two types of Wyoming Statement of Exemption from Presumption of Abuse Under 707(b)(2): the “Statutory Exemption” and the “Equitable Exemption.” The Statutory Exemption is used to protect assets up to a certain amount, while the Equitable Exemption is used to protect assets beyond the Statutory Exemption limits. In either case, the debtor must prove that the assets were not acquired through fraud or deception in order to be exempt from the presumption of abuse.
Wyoming Statement of Exemption from Presumption of Abuse Under 707(b)(2)
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