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Minnesota Debt Collection Laws and Statutes

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

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Frequently Asked Questions

We are the professionals! Third-party intervention significantly increases successful debt recovery.

The individual’s credit score will be negatively affected. We will also audit the claim to determine if the claim warrants legal action.

We will happily accept your old debts! The statute of limitations varies in each state so call us at 877-680-6064 to see if your debt is still valid

We use cutting edge technology to locate your debtor’s whereabouts, contact information and assets; all of which are critical to successful recovery of your money.

That’s great news! Report the payment to us ASAP and we can bill you for our commission.

Many debts are collected within the first 30 – 90 days.

Yes! Since there are costs associated with taking someone to court, this phase is always optional and we will never take legal action without your authorization.

You can access our Client Portal 24/7! You can also call us anytime at 877-680-6064.

Once your debtor’s payments adequately clear our account, we’ll get a check out to you thereafter.

Click here to request a quote or submit your claim today.

Any Questions? Call Toll-Free: (877) 680-6064

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NO RECOVERY, NO FEE
DEBT COLLECTIONS

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