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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am in Chapter 13, and paying my mortgage on my home thru

Customer Question

I am in Chapter 13, and paying my mortgage on my home thru my Chapter 13 Trustee.
Are my payments going toward my principle amount owed on my home, or can the Mortgage Company continue to post the amount toward interrest payments. I thought when you are in bankrupcy, the companies could not charge interrest. Please advise.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

Thank you for your question.

The default interest rate typically stops in a chapter 13 bankruptcy. The regular payment would commence which would include a portion of interest. Your payment would include the regular payment plus a portion of the arrearage