Topp – Upending Till??

The Eighth Circuit recently released its Topp opinion. At issue was the appropriate starting point for determining the discount rate to be used when paying secured claims under a chapter 12 plan. The debtor, who had gained confirmation of his plan before the bankruptcy court, proposed paying claims to Farm Credit Services over 20 years at a rate based on the twenty-year treasury bond rate. That rate was 1.87% as of the Petition date, and to it the debtor proposed adding a 2% “risk adjustment.”

Farm Credit agreed a 2 . . .

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bledsoe150
Board of Directors - Chapter 13 Trustee

Jody Bledsoe is the Chapter 13 trustee for the Fayetteville, Greenville, New Bern, and Wilmington Divisions of the United States Bankruptcy Court for the Eastern District of North Carolina. During the 20 years prior to his appointment in April of 2014, Jody represented consumer debtors in chapter 7 and chapter 13, and in claims under the FDCPA and the North Carolina Unfair and Deceptive Practices Act. He is a former member of the National Association of Consumer Bankruptcy Attorneys, ABI, and the National Association of Consumer Advocates. He lives in Raleigh, North Carolina with his wife, Kimberly.

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