Consumer debt consists of personal debts for goods purchased for personal or household consumption—as opposed to debts incurred for the operation of a business. Common examples of consumer debt include (1) credit card debt; (2) student loans; (3) home mortgage loans; (4) car or auto loans; (5) payday loans; (6) medical debts; and (7) unpaid utility and telephone bills.

In Wyoming, consumer debt is regulated by both state statutes and federal laws. Credit card debt, student loans, home mortgages, auto loans, payday loans, medical debts, and unpaid utility and telephone bills are all considered consumer debts when they are incurred for personal or household use. The Wyoming Uniform Consumer Credit Code (W.S. 40-14-100 et seq.) governs various aspects of consumer credit transactions, including disclosure requirements, permissible charges, and licensing of lenders. For debt collection practices, Wyoming follows the federal Fair Debt Collection Practices Act (FDCPA), which sets standards for the conduct of debt collectors and provides consumers with rights to dispute and obtain validation of debt information. Additionally, specific types of loans such as payday loans are subject to Wyoming statutes that cap the interest rates and fees that lenders can charge. Mortgage lending is also regulated by both state and federal laws, including the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA), which provide disclosures to consumers and prohibit certain unfair practices. Consumers facing issues with debt in Wyoming have the right to seek advice from an attorney to understand their rights and obligations under the law.