In re Kopec, No. 11-27574; U.S. Bankruptcy Court (DNJ); opinion by Ferguson, U.S.B.J.; filed June 20, 2012. DDS No. 42-6-xxxx [10 pp.]
Patricia Kopec filed a Chapter 13 petition on June 7, 2011. After confirmation, the debtor filed a motion to modify the claim filed by Richard Pisciotta. In May 2001, Pisciotta purchased a certificate of sale for unpaid municipal liens for the debtor’s property. Pisciotta paid the subsequent municipal liens on the property. The debtor’s Chapter 13 plan proposed to pay Pisciotta $72,050.36 at an interest rate of 4 percent. Pisciotta filed a proof of claim for $83,027.40 with interest rates of 14 percent and 18 percent. The court confirmed the plan. The parties have agreed that the amount due as of the petition date was $64,457.59. The sole issue is the appropriate interest rate over the life of the plan.
