Minnesota Statute of Limitations

Every Minnesota Collection Agency may collect files in Bloomington, Brooklyn-Park, Burnsville, Coon Rapids, Duluth, Eagan, Minneapolis, Plymouth, Rochester, and St Paul. Fidelity Information Corporation is a nationally recognized collection agency successfully collecting in every state including Minnesota.

Recover your delinquent accounts through an Minnesota Collection Agency Service. Minnesota collection agency services can locate debtors and collect the money owed to your business, practice or facility. Using Fidelity Information Corporation or OldDebts as your Minnesota collection agency service can save you time and money.

With our custom-designed debt collection system, our collection agency can be more effective in recovering delinquent accounts, after more than 31 days have passed. We offer two ways to collect, which are our contingency method or our low flat fee instead of a percentage.

Following is some important information on Minnesota state debt recovery laws including: Minnesota Statutes, Minnesota Judgments, Minnesota Garnishments, Minnesota Interest Rates, and Minnesota Bad Check Laws.

STATE: MINNESOTA

Interest Rate

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

STATUTE OF LIMITATIONS (IN YEARS)

• Open Account: 6
• Written Contract: 6
• TransportationService: 3
• Sales (UCC) Contract: 4
• 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.