Minnesota Commercial Credit & Collection Information
INTEREST RATE
STATUTE OF LIMITATIONS
(IN YEARS)
- Goods Sold &
Delivered (UCC): 4
- Open Acct.: 6
- Written Contract: 6
- Transportation
Service: 3
- Domestic Judgment:
10
- Foreign Judgment: 10
BAD CHECK LAWS (CIVIL
PENALTY)
Up to $greater of $100 or value of check
GENERAL GARNISHMENT
EXEMPTIONS
Greater of 75% or amount = to 40 x fed. min. hourly wage
COLLECTION AGENCY BOND
& LICENSE
-
Bond:
at least
$20,000
- License: Yes
-
Fee:
- $500 - Initial
- $400 - Annual
- $10 - Per
Collector
|