Read a quick update on increases in the prime rate of interest and in my percentage fee.
This post includes a little bit of information on several topics:
– last week’s increase in the prime rate of interest;
– bar dates in cases that convert to chapter 13;
– estimating trustee’s fees in the plan;
– problems with 522(f) lien avoidance calculations in the plan.
The prime interest rate increased to 4.25% on June 15, 2017. Click here for an earlier post on the topic of interest rates on secured claims, especially in the EDKY.
The prime rate of interest increased a quarter of a point to 4% effective March 16, 2017. Read on for information on how this affects chapter 13 plans in the EDKY, and what other interest rates are applicable to secured claims.
The interest rate on secured IRS claims increased to 4%, effective with cases confirmed on or after April 1, 2016.