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How to Settle a Debt in Wyoming

Sarah Edwards | January 11, 2023

Sarah Edwards
Legal Expert
Sarah Edwards, BS

Sarah Edwards is a professional researcher and writer specializing in legal content. An Emerson College alumna, she holds a Bachelor of Science in Communication from the prestigious Boston institution.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

That feeling when you settle your debt in Wyoming ^^

Summary: If you’re facing a debt lawsuit in Wyoming, you can reach out to your creditor or debt collector to negotiate a debt settlement at any stage of the lawsuit process. To settle a debt in Wyoming, be sure to respond to the lawsuit with an Answer, send a settlement offer to kickstart negotiations, and get the settlement agreement in writing when the time comes. SoloSettle can help you with each of these steps and more.

Most Wyoming residents carry some type of debt. While everyone tries to keep up with their financial responsibilities, sometimes things happen, and you may fall behind.

If you find yourself unable to get your payments back on track, your creditor may try to take legal action against you. They’ll file a debt lawsuit, and you’ll need to make arrangements to settle the matter before your court date or face a judgment.

A judgment can make your life miserable, giving creditors and debt collectors the right to freeze your bank account, garnish your wages, or even seize your property.

In this article, we’ll discuss how to settle a debt in Wyoming before going to court and the laws you need to know to protect yourself.

Follow three steps to settle debt in Wyoming

To settle your debt before your court date in Wyoming, follow these 3 steps:

  1. Respond to the debt lawsuit with an Answer.
  2. Make an offer to start settlement negotiations.
  3. Get the settlement agreement in writing.

Below, we’ll go over each of these steps in detail. Otherwise, you can watch this video to learn more:

1. Respond to the debt lawsuit with an Answer

Creditors and debt collectors will begin a lawsuit against you by filing a Summons and Complaint in your local court. Their Complaint will list the reasons for the legal claim, such as your nonpayment of the debt, the amount due, and any interest or fees.

Even if you plan to settle your debt with the creditor before your court date, you should still respond to the lawsuit with an Answer. An Answer is a legal document that acts as your defense to the Complaint.

Your Answer should respond to each claim listed against you in the Complaint and include all the reasons why you believe the lawsuit is invalid. For instance, you may claim that there is insufficient validation of the debt or that you think that the statute of limitations has passed.

You have 20 days to respond to a debt lawsuit in Wyoming before the court orders a default judgment against you (30 days if you were served court documents outside of Wyoming). With a default judgment, your creditor or debt collector has the right to garnish your wages and seize your property.

This is why it’s so important to file an Answer to the lawsuit. It will protect you from a default judgment and buy you time to work out a debt settlement agreement.

If you’re unsure how to prepare your Answer, check out this video on the process:

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2. Make an offer to start negotiations

Your next step is determining how much money you can offer to settle the debt once and for all.

Consider the money you have in savings and the paychecks you’ll receive over the next few weeks. If you don’t have much available cash, you can consider selling items you don’t need or borrowing money from friends and family.

The more you offer in a settlement, the more likely your creditor or debt collector will accept it. We recommend starting your negotiations at around 60% of the total amount owed.

You should expect your creditor to counter with an offer of their own. It’s common to go through several rounds of negotiation before reaching an agreement. The type of debt involved affects how much your creditor or debt collector will settle for. Consider the following:

  • Is the debt a signed promissory note or book account?
  • Do you have a meritorious defense?
  • Are there any offsets?
  • Does the debt have interest?
  • Is there a valid fee-shifting provision? A fee-shifting provision requires the borrower to pay the cost of collection.
  • When was the last payment on the debt?
  • Is the debt owned by the original creditor or has it been assigned to someone else?
  • Is the debt part of a federal or state loan program or is it a private loan?
  • Is it secured credit?
  • Is the debt dischargeable in bankruptcy? Is it a student loan?

All these factors will play a role in the creditor or collector’s decision to settle. So, while 60% is a safe starting point, you might be able to settle for a lower amount.

Be careful not to accept a settlement that you know you can’t afford. If your creditor’s offer is impossible for you to pay, explain your current financial circumstances. They may be able to accommodate your needs by lengthening your repayment time or accepting a lesser amount.

Failing to repay your debt according to the terms of your settlement agreement will cause the creditor to restart their lawsuit against you, which will likely result in a judgment.

SoloSettle sends and receives settlement offers for you.

3. Get the settlement agreement in writing

Before you transfer any payment to the creditor, make sure to get the agreement in writing.

Formal written agreements indicate the amount of money you’ll repay, the date it’s due, and where you’ll send the payment. Your agreement should indicate that upon repayment of the debt, your creditor waives the right to further collection activities against you concerning the debt.

You can prepare an agreement before negotiating the debt with your creditor. That way, you’ll only need to insert the terms of the deal into the agreement before finalizing it. Here’s a debt settlement agreement example for your reference, with a little preview attached below:

Debt Settlement Agreement Example

You’ll notice that we provide a space for both parties to notarize the terms of the contract. Notarizing the agreement ensures that there are witnesses, providing an additional layer of safety in case your creditor tries to back out of the deal.

To better understand Wyoming debt settlement in action, take a look at this example:

Example: Sarah, who lives in Wyoming, receives a Summons and Complaint notifying her of a debt lawsuit from ABC Creditors. She’s stopped paying the obligation because she lost her job. ABC Creditors is suing her for a total debt of $2,000. After filing an Answer to ABC Creditor’s Complaint, Sarah uses SoloSettle to contact her creditor to arrange a debt settlement. SoloSettle sends an offer on Sarah’s behalf of 60% of the debt’s value, or $1,200.

ABC Creditors accepts Sarah’s offer after learning of her job loss. They sign the settlement agreement, and ABC Creditors drops the lawsuit against Sarah.

Wyoming debt collection and debt settlement laws can protect you

Wyoming fully accepts the Fair Debt Collection Practices Act (FDCPA), which protects consumers from abusive creditors and debt collectors. Under the FDCPA, creditors and debt collectors cannot take the following actions against a debtor:

  • Using obscene or threatening language when contacting a debtor
  • Telling the debtor that they’ll go to jail if they don’t repay an obligation
  • Contacting people the debtor knows to tell them the person owes them money
  • Calling a debtor before 8 a.m. or after 9 p.m. concerning a debt
  • Pretending to be someone they aren’t, such as a law enforcement agent
  • Telling the debtor they’ll take legal action against them when they don’t plan to
  • Calling the debtor more than seven times over a seven-day period concerning a debt

Wyoming has a statute of limitations on actions against consumers for outstanding debts. Under WY Stat § 1-3-105 (1997 through Reg Sess), creditors can pursue written obligations for up to 10 years and oral commitments for 8 years. Creditors can file legal claims for up to five years concerning debts on account and judgments.

In addition to these debt collection laws, the Federal Trade Commission has recently amended the Telemarketing Sales Rule to expand debt settlement regulations to all debt relief organizations and companies. All 50 states, including Wyoming, are governed by this Rule as it relates to debt settlement practice.

Under the new Rule, any company that provides debt relief services, namely debt settlement companies, cannot:

  • Charge upfront fees. Debt settlement companies cannot collect any fees from a consumer before the debt has been effectively settled or otherwise resolved.
  • Fail to disclose certain information about its services before a consumer enrolls in the program. This includes how much the service costs, how long it takes to see results, how much money must be saved before a settlement offer is made, consequences that may occur if the consumer fails to make payments on time, customer’s rights, and other important terms.
  • Misrepresent their services. No false or unsubstantiated claims can be made regarding a debt settlement company’s services.

What are the best debt settlement companies?

Several organizations can assist you if you want help settling your debt in Wyoming.


SoloSettle, powered by SoloSuit, uses a tech-based approach to help consumers like you settle their debts. Our software sends and receives settlement offers on your behalf so you don’t have to stress about communicating with sketchy debt collectors.

On top of that, SoloSettle helps you manage your settlement agreement documents and sends payments in your name so you don’t have to give up your financial information.Further, SoloSettle ensures that proper legal language is used to make you sound professional and to protect your rights.

Many consumers prefer SoloSettle over traditional debt settlement companies for a few reasons:

  • You can settle debts of any size with SoloSettle. Many debt settlement companies require you to have a debt over $15k.
  • SoloSettle actively attempts to settle your debt, whereas many debt settlement companies take a more passive role, waiting for settlement offers to come to them.
  • SoloSettle is offered by SoloSuit, a trusted brand and a legitimate company. Many traditional debt settlement companies are actual scams.
  • SoloSettle has legal defense built in with SoloSuit. While settling, you can use SoloSuit to block lawsuits if you need. Most debt settlement companies don’t provide legal defense; if you’re sued for a debt you are on your own.

Still not convinced? Check out this SoloSettle review from a real customer:

“I'm very thankful for SoloSettle.. Having a third party negotiate the settlement was instrumental in resolving this case and saved me from two giant headaches: 1) I didn't have to deal with the plaintiff's lawyer and 2) I didn't have to go to court. I also love that the payment was processed through SoloSettle. I was nervous about sharing my personal financial data with the other side, but SoloSettle protected that for me. I hope I never get sued again, but if I do, I would use SoloSettle again in a heartbeat.

SoloSettle really saved me a ton of time and heartburn and kept me from having to be my own lawyer in court.”

National Debt Relief

National Debt Relief is one of the largest debt settlement companies in the nation. It’s helped over 400,000 people obtain debt relief through its programs. National Debt Relief specializes in unsecured debt like credit cards, medical bills, and personal loans.

They charge fees ranging from 15 to 25% of the consumer’s total debt, and people can expect to complete their programs within two to four years.

Freedom Debt Relief

Freedom Debt Relief is another large debt settlement company. Since 2002, it’s helped over 850,000 people resolve billions of dollars in debt. Programs last between two and four years, and fees range from 15 to 25% of the enrolled debt. Freedom Debt Relief can help with unsecured debts but not secured obligations like mortgages.

Century Support Services

Century Support Services is another debt relief company that’s popular with customers. Since 2012, the organization has helped customers resolve more than $1.7 billion in debt. Century Support Services charges clients 18% to 25%, depending on how much debt they seek to settle.

What is the best way to send a settlement offer to a creditor or debt collector?

If you’re ready to start the debt settlement process with your creditor, you can email them, call them, or send them a letter.

Email is usually the best option. Email keeps a written record of the conversation between you and the debt collector. When negotiating a settlement deal, you’ll have the opportunity to consider your creditor’s statements before making any commitments.

We recommend recording the call if you’d prefer to negotiate a settlement over the phone. Under WY Stat § 7-3-702, only one party must consent to a recording. You’ll be the party granting your consent.

FAQs on debt settlement in Wyoming

You may have many questions concerning debt settlement in Wyoming. Here are a few of the most common inquiries we hear:

Q. How long before a debt is uncollectible in Wyoming?

Unfortunately, debts don’t fade away with time. While your creditor won’t be able to pursue you legally for a debt if it passes the statute of limitations, you’ll still owe it. Your creditor can continue to report the account and send you debt collection notices.

The only way to absolve yourself entirely from the debt is by repaying, settling, or declaring bankruptcy.

Q. What percentage of debt should I offer to settle?

The more you offer in a debt settlement, the more likely your creditor is to accept it. We recommend starting the settlement process with 60% of the value of your debt. If you can’t afford that much, begin the negotiations with what you can. Explaining your financial circumstances may help you obtain a more favorable arrangement.

Q. Can I handle my own debt settlement?

Yes, it is possible to perform your own debt settlement. You should review how the process works before beginning. Make sure to obtain a written agreement of each settlement before paying the money to your creditors or debt collectors.

How to get debt relief in Wyoming

SoloSuit has other articles you can read concerning debt relief in Wyoming. Here are a few of our top articles:

Debt settlement is possible in Wyoming

Whether you’re facing a debt lawsuit or simply want to get rid of an old unpaid debt, debt settlement can help. It’s a simple process that involves evaluating what you can afford to pay and negotiating an agreement with your creditors.

While debt settlement doesn’t look as favorable on your credit report as sticking with the terms of your payment agreement, it can help if you can’t afford to repay your debts fully and want to avoid the more drastic measure of bankruptcy.

If you’re not ready to take on debt settlement yourself, you can get professional help.

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