Monday, July 28, 2014
The U.S. Bankruptcy Courts for the Northern and Southern Districts of Mississippi have jointly entered three new Standing Orders. A brief explanation of each order and a link to a viewable copy of each is provided below. All three Standing Orders have an effective date of August 1, 2014.
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For Chapter 13 cases filed on or after August 1, 2014, the bankruptcy judges of the Northern and Southern Districts of Mississippi have agreed to a new presumptive rate of 5%, as provided in the Standing Order Designating Presumptive 11 U.S.C. § 1325(a)(5)(B) Interest Rate dated July 22, 2014.
For Chapter 13 cases filed on or after March 1, 2009, but before August 1, 2014, the bankruptcy judges of the Northern and Southern Districts of Mississippi will continue to recognize the presumptive rate of 7%, as outlined in a February 13, 2009 Memorandum from Chief Judge Elligton to Chapter 13 Trustees for the Southern District of Mississippi.
Standing Order (pdf)
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The "no-look" amount of debtor attorney fees in Chapter 13 cases has been raised to $3,200. Standing Order (pdf)
- Attorney fees paid though the Chapter 13 plan are to be paid at the rate of $100 plus 15%. Standing Order (pdf)