Prime Rate; Bar Dates; & Other New Plan-Related Topics
Stuff to know.
Chapter 13 Trustee, EDKY: Trustee's Blog
This post includes a little bit of information on several topics:
- the most recent increase in the prime rate of interest:
- bar dates in cases that convert to chapter 13;
- estimated trustee fees in the plan;
- problems with 522(f) lien avoidance calculations in the plan.
Prime Rate
The prime rate of interest increased to 4.5% effective December 14, 2017. Click here for a previous article on interest rates on secured claims.
Bar Dates for Filing Proofs of Claims in Converted Cases
The amended bankruptcy rules that became effective on December 1 apparently apply in a case that was filed as a chapter 7 case before December 1 but that converted to chapter 13 after December 1. Therefore, creditors have only 70 days from the date of conversion within which to file claims in a case converted to chapter 13 after December 1, regardless of when the case was initially commenced.
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- New Deadlines for Filing Tax Returns as Required by Section 1308
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- The New Chapter 13 Plan in Operation: The Good, The Bad, and The Ugly
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