In re Cassell

MEMORANDUM OPINION AND ORDER

H. CLYDE PEARSON, Chief Judge.

The issue before this court is what interest rate an undersecured creditor is entitled to on the secured portion of the creditor’s debt. Another way of stating this issue is what is the appropriate discount rate that a Chapter 13 plan must apply to the allowed amount of a secured claim being paid over time in accordance with the terms of the plan.

The essential facts are as follows: The secured creditor, Dominion Bank, N.A., (“Bank”) has a security interest in Ira Hampton and Shirley Jean Cassell’s (“debtors”) 1985 Ford, F-150, four…