Minnesota Collections-Creditors Rights FAQs

• Q: What Is The Statute Of Limitations In Minnesota?
  A: Four­year statute of limitations ­ sales arising under Article II of the Uniform Commercial Code (ie. the sale of goods between merchants). Six­year … More
• Q: What Is The Pre-Judgment Rate Of Interest?
  A: 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
• Q: Is A Confession Of Judgment Allowed?
  A: 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
• Q: What Is A Replevin?
  A: 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
• Q: Can A Foreign Judgment Be Used In Minnesota?
  A: 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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