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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