Legal Question in Bankruptcy in Ohio
Intrest Payments
I filed chapter 13 in 1994. I have recently heard that by filing ch 13 intrest is not paid to my creditors. I have been paying intrest to one of my creditors. Can you please inform me if i should not be.
1 Answer from Attorneys
interest to creditors - maybe - maybe not
In the jruisdiction where I practise, if there is equity in your estate, or if a secured creditor is ocver-secured, then you - as a debtor - must pay interest - if your plan is a less than 100% plan to unsecured creditors you are probably not paying interest to unsecured creditors -But more importantly - this issue should have been dealt with at the time of confirmation of your plan - it was addressed, theoretically, at that time
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