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Chapter 13 Interest Rate

Friday, May 19, 2023

Pursuant to the Court’s directive, the Advisory Committee on Local Rules, Practice, and Procedures has met and recommended an increase in the presumptive interest rate in chapter 13 cases.  After consideration, the Court has adopted the recommendation of the Committee.  The presumptive interest rate in chapter 13 cases to be applied to secured claims will become 9.00%, effective for cases filed on or after June 1, 2023.  The Court thanks the members of the Committee for their work and recommendation in arriving at this compromised rate. Although this is a considerable increase from the current rate, it is required pursuant to the U.S. Supreme Court’s decision in Till v. SCS Credit Corp., 541 U.S. 465 (2004), and is comparable to the rate set by other districts.