I thought when you filed a 13, it stopped the interest and penalties. On the B10 the IRS filed for their claim, they're listing a secured claim $**,*** + Annual percentage rate of 7%.
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Yes, but are they charging the interest rate for up to the date you filed, or after?You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing
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I believe they can charge interest for a secured debt during the chaper 13. no extra penalties. and if the debt is over 3 years old even the debt isn't dischargeable, the penalties are.Comment
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I just know in my case...... 7 years of back taxes + penalties and interest. 43000 dollars. all new penalties and interest stopped. principal+ interest up to that point was to be paid 100% which was 10000 and the rest was non secured paid at the % 58% about 17000 so 16000 was washed away. Im not special so I think this is the way things go.Comment
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Yes, but are they charging the interest rate for up to the date you filed, or after?
After.Comment
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yes they can still charge interest during your chapter 13 plan for the taxes that are dischargeable.Comment
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No they are not charging interest no more. That would be violating the "stay" And if they could charge interest wouldnt credit cards and etc do this too? Unless they are fond of me.....Comment
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Credit cards and other creditors do get interest in a chapter 13! In my brother's BK all creditors are getting 6%.Chapter 7 Pro Se....Discharged Feb. 2006Comment
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perhaps in ca its different I guess???Comment
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whoa. I was under the impression that DURING the chapter 13 all interest, especially unsecureds like credit cards was stopped. all penalties up to the date of filing too. Is the 6% what is getting paid back to creditors and not the interest?Last edited by holding on; 06-05-2008, 09:58 PM.May 2008: Filed Chapter 13
Jan 2010: Plan Amended and Confirmed! finally plan funds = total funds due!
Jul 2013: 5 years done! Trustee set to discharge! Woo hoooo!
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He's in Louisiana and does not have any secured creditors. He is a 100% payback.Chapter 7 Pro Se....Discharged Feb. 2006Comment
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Yes, but you stated that credit cards get interest in a chapter 13. Unsecureds shouldn't be getting interest within the plan so I was curious why your brother was getting charged interest.May 2008: Filed Chapter 13
Jan 2010: Plan Amended and Confirmed! finally plan funds = total funds due!
Jul 2013: 5 years done! Trustee set to discharge! Woo hoooo!Comment
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secured creditors can charge interest-i have a car and truck in the plan that i am paying on .the truck through gmac charges 10.25% and the car is 10% interest .the irs is a priority claim after secured claims,so maybe they can as wellComment
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I am in a 100 % payback plan and all creditors are receiving 7% interest. The trustee is getting 10 %.CH 13 OLD LAW
10/14/05
Closed completed
Final accounting 04/2009Comment
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only our car is getting interest. Our non-secureds are notFiled: October 1, 2007 341: December 10, 2007
CONFIRMED: December 10, 2007
Payment: $825 / Mo. for 5 Years-29 MONTHS OF Pmts Down 23 to go!Comment
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