LawInfo

Minnesota Collections-Creditors Rights FAQs

• What is the statute of limitations in Minnesota?
  Four­year statute of limitations ­ sales arising under Article II of the Uniform Commercial Code (ie. the sale of goods between merchants). Six­year … more
• What is the pre-judgment rate of interest?
  The legal pre­judgment rate of interest is 6% per annum, unless the parties have contracted for a different rate. A written contract may provide for a rate of … more
• Is a Confession of Judgment allowed?
  A confession of judgment is allowed in Minnesota when signed and verified by the debtor. However, a confession of judgment is not enforceable in the state of Minnesota … more
• What is a Replevin?
  In Minnesota, a creditor is allowed to take possession of certain property after serving the debtor with a Summons and Complaint, prior to the entry of judgment. This … more
• Can a Foreign Judgment be used in Minnesota?
  Minnesota has adopted the Uniform Enforcement of Foreign Judgments Act. Therefore, any foreign judgment can be entered in Minnesota by filing either a certified or … more

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