Wyoming Credit Laws

Judgment contract rate or 10% judgment rate

If a contract provides for a lesser rate, the judgment rate is the lesser of 10% and the contract rate.

Open Acct: 8 - Written Contract 10 - Domestic Judgment 5 - Foreign Judgment 5

Three times amount of check but not less than $100 plus collection fee of $30

See federal law for consumer credit sale, lease or loan. Up to 65% for child support arrearage.

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section: (a) The collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.   A Mar. 25, 2010 opinion letter from Wyoming’s Office of the Attorney General states, “since a convenience fee is not authorized by Wyoming law, a convenience fee may only be charged to a debtor if the debt arose from a non-consumer credit transaction and if the underlying agreement creating the debt expressly provides for such fees.”   Delinquency charges: (a) With respect to a consumer credit sale, refinancing, or consolidation, the parties may contract for a delinquency charge on any installment not paid in full within ten (10) days after its scheduled due date in an amount not exceeding the greater of: (i) Five percent (5% ) of the unpaid amount of the installment; or (ii) Ten dollars ($10.00). (b) A delinquency charge under subsection (a) of this section may be collected only once on an installment however long it remains in default. No delinquency charge may be collected if the installment has been deferred and a deferral charge (Wyo. Stat. § 40-14-215) has been paid or incurred until ten (10) days after the deferred due date. A delinquency charge may be collected at the time it accrues or at any time thereafter. (c) No delinquency charge may be collected on an installment which is paid in full within ten (10) days after its scheduled installment due date even though an earlier maturing installment or a delinquency charge on an earlier installment may not have been paid in full. For purposes of this subsection payments are applied first to current installments and then to delinquent installments.  No licensee shall collect or sue, either as an assignee or as agent for any creditor, for more than the actual amount due or claimed to be due on any claim or claims, plus legal interest and court costs; provided, when suit is brought upon a note or notes providing for an attorney fee, such attorney fee may be added if the licensee is represented by a duly licensed attorney, in which case the attorney fee shall be paid to such attorney and no part thereof shall be retained by the licensee.