Chat with us, powered by LiveChat

Minnesota Debt Collection Laws and Statutes

Below you will find important information on Minnesota state debt recovery laws including: Minnesota Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.

STATE: MINNESOTA

Interest Rate

  • Legal: 6%
  • Judgment: 5% for 2007 changes anually
  • Business or Agricultural Loan: 4.5% over federal discount rate

STATUTE OF LIMITATIONS (IN YEARS)

  • Goods Sold & Delivered (UCC): 4
  • Contract for Sale: 4
  • Lease Contract: 4
  • Note Payable: 6
  • Open Account: 6
  • Written Contract: 6
  • Transportation Service: 3
  • Domestic Judgment: 10
  • Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

$100 or up to 100% of the value of the check, whichever is greater, plus interest at the rate payable on judgments on the face amount of check, plus reasonable attorney fees if aggregate amount of checks within 6 month period os over $1250.

GENERAL GARNISHMENT EXEMPTIONS

Greater of 75% or amount = to 40 x fed. min. hourly wage.

NO RECOVERY, NO FEE DEBT COLLECTIONS

Request A Free Quote

Requests are responded to within 24 hours.
Copyright © 2020 HF Holdings, Inc.

NO RECOVERY, NO FEE
DEBT COLLECTIONS

Request A Free Quote

Tell us about the money owed to you and get a FREE quote today! Requests are responded to within 24 hours.