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New Interest Rate Policy Adopted by Mississippi Bankruptcy Judges ( June 2004 )
Local practitioners have been advised by the Chapter 13 Bankruptcy Trustee for the Southern District of Mississippi that the three sitting Bankruptcy Judges in the State of Mississippi have adopted an informal policy under which the maximum interest rate allowed on secured claims in Chapter 13 bankruptcy cases will be 8% per annum. This policy was adopted after a review of the United States Supreme Court decision handed down May 17, 2004 in the case of Till et ux. v. SCS Credit Corporation.
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