341’s via Videoconferencing; Stopping ACH Plan Payments; Prime Rate of Interest

Zoom 341’s:

Starting April 15, all chapter 13 section 341 meetings of creditors will be conducted using the Zoom videoconferencing service.  I have just begun to file notices of continued creditor meetings, but PLEASE give me a few days to post more detailed information about how this will work.

Stopping ACH Plan Payments:

In an earlier post, I offered to stop payroll deductions on request of the debtor.  I should have clarified that the request should be made only if the debtor’s financial situation has changed or will be changing as a result of the COVID-19 pandemic.

To stop plan payments being deducted from the debtor’s bank account via ACH/bank draft, make the request in writing.  An email from the debtor is sufficient as long as it includes the debtor’s name and case number.  If the bank draft is scheduled for April 10, send an email before midnight on April 7.  If the bank draft is scheduled for the 25th, send an email before midnight on April 22.  Send the email to questions@ch13edky.com.  If the request is sent via regular mail, send it at least 10 days before the scheduled draft date.

We will not resume ACH payments automatically.  The debtor may re-enroll in ACH or may use TFS to make plan payments electronically, www.tfsbillpay.com.

Prime Interest Rate:

This is old news, but the prime rate of interest dropped to 3.25% effective March 16, 2020.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s