Monday, January 2, 2012

Debt State Statutes in Minnesota

WAGE GARNISHMENT EXEMPTION: 75% of earnings or amount equal to 40 times the federal minimum hourly wage, whichever is greater



MAXIMUM INTEREST RATE: Legal: 6% Judgment: About 5% (changes annually)



STATUTE OF LIMITATIONS ON ENFORCEMENT:



Open Account (credit card): 6 years

Written Contract: 6 years

Domestic Judgment: 10 years

Foreign Judgment: 10 years

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