In Re: Lee M. Till and Amy M. Till, Debtors-Appellants

My colleagues hold that section 1325(a) (5) (B) (ii) entitles a creditor to the same interest rate that it would charge on a new loan to someone who is situated similarly (except for the bankruptcy) to the debtor. By its own account, the interest rate that SCS charges its customers for sub-prime, used car loans is whatever the market will bear. In re Till, No. 99-13425-13, Transcript of Continued Hearings on Trustee’s Motion to Dismiss, etc., at 34, 38 (Bankr.S.D.Ind. Feb. 29, 2000). In the Tills’ case, that was an eye-popping 21 percent. Compelling a debtor to pay such a burdensome rate of…