New Administrative Order relating to administration of conduit mortgage payments in Chapter 13 cases

The Bankruptcy Judges for the Northern District of Ohio, Eastern Division (Cleveland) entered the "Third Amended Administrative Order No. 09-02," which changes the administration of conduit mortgages in Chapter 13 cases. The new Order eliminates the need for debtors to submit an Authorization to Release Information to the Trustee. Creditors will no longer need to submit the Addendum to Chapter 13 Proof of Claim and the 12-month summary of activity on the loan. A copy of the "Third Amended Administrative Order No. 09-02" is available in the Library section of this website. Click on Conduit Mortgage Payments. Additionally, a link to the Bankruptcy Court's website can be found under the Links section.

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New Prime Rate effect June 14, 2018

By General
June 25, 2018 Category: Prime Rate

Effective June 14, 2018, the new Prime Rate is 5.0%, which means the presumptive rate per Administrative Order 17-02 is now 7.0%. For cases that are confirmed on or after June 14, 2018 and reference Administrative Order 17-02 for personal property secured claims, the rate to use is increased from 6.75% to 7.0%.

National Form Plan to be used in Cleveland beginning December 1, 2017

By General
December 22, 2017 Category: General

The new national form plan will be mandatory in all cases filed on or after December 1, 2017. Relative thereto, new Administrative Orders were posted by the Bankruptcy Court on October 31, 2017 and may be accessed at A form confirmation order is expected to be posted in the near future. General Order No. 17-1, has also been posted by the Bankruptcy Court relative to service of Chapter 13 Plans as of December 1, 2017.

Interest rate paid on secured personal property claims provided for in the Chapter 13 Plan

By General
December 20, 2017 Category: General

Chapter 13 Plans effective April 15, 2013 through November 30, 2017 Paragraph (D) of the Chapter 13 plan for cases filed from April 15, 2013 through November 30, 2017, provides that the interest rate shall be: the U.S. prime rate shown in the Wall Street Journal for Money Rates as of the date of the entry of the confirmation order, plus a risk factor of 2%. Chapter 13 Plans effective December 1, 2017 Pursuant to Administrative Order No. 17-2 (Order Adopting a Common Formula for a Presumptive Interest Rate in Chapter 13 Cases for claims secured by a security interest in Debtors Personal Property), the applicable prime rate shall be the U.S. prime rate shown in the Wall Street Journal for Money Rates at the time of confirmation.

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