Minnesota Commercial Collection Agency

Minessota Collection Agency
Minessota Collection Laws

Burt and Associates is a Collection Agency that specializes in Commercial Collections.

Full Debt Commercial Collection Agency Coverage for Minnesota MN

Bloomington | Duluth | Minneapolis | Saint Paul

Burt & Associates a national debt collection agency with full collection coverage for Minnesota. We invite you to review our services and feel free to contact us with any questions or comments you may have.

Contact Burt & Associates

By Phone:
Toll free: 1-877-740-7839

Or Fill out our Collection Agency Contact form

To Get A Free Quote, know our Collection Rates or call us toll free 1 (877) 740-7839 and get started today!

Minnesota Collection Laws

We hope that this information on Minnesota Collection Agencies assists you. The following is a summary of the Minnesota Collection Laws. The information here may not be 100% accurate and should not to be construed as legal advise.

• Minnesota Collection Laws Interest Rate
  Legal: 6%
  Judgment: 5% (Changes Yearly)
  Business or Agricultural Loan: 4.5% over federal discount rate
  
  
• Minnesota Collection Laws Statute Of Limitations (Years)
  Goods Sold & Delivered (UCC): 4
  Open account: 6
  Written Contract: 6
  Transportation Service: 3
  Domestic Judgment: 10
  Foreign Judgment: 10
  
  
• Minnesota Collection Laws Bad Check Laws (NSF) (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 is over $1250.



• Minnesota Collection Laws General Garnishment Exemptions
  Greater of 75% or amount = to 40 x Federal minimum hourly wage

Minessota Debt Collection Tips

The longer an account goes unpaid, the less likely the account will pay. At 90 days past due, your account value begins to decline rapidly. At 6 months past due, you are likely to recover only 30% of the account balance owed to you.

Aggressive collection demands are sometimes necessary. Forwarding delinquent accounts to an SAS-70 certified commercial collections agency before they become 90 days past due more than triples your chances of getting paid what is owed to you. Highly skilled commercial collection collectors can motivate difficult customers to pay their accounts.

Burt & Associates will get your delinquent accounts collected. Our seasoned, professional commercial collectors are experts at collecting your delinquent money. The best time to hire a collection agency is yesterday!

Warm regards,

Jerry Curtis
President & CEO

Educational Tidbits For Today's Credit Executive
Evaluating Whether to Sue An Insolvent Debtor

Outside considerations of bankruptcy, a creditor's objective, in a collection lawsuit, is usually to be paid as much as possible as fast as possible. If a creditor forces payment, whether alone or with the actions of other creditors, that payment could strain the financial situation of the debtor and the debtor may be forced to file for bankruptcy protection. Further, if a payment may be recovered by the debtor in possession or the trustee as a preference, creditors may then be in a worse situation than if they had proceeded more cautiously or settled for less. Under bankruptcy, the creditor has a conflicting incentive to minimize financial pressure on the debtor. The main objective of an insolvent debtor, when defending a collection lawsuit, is not so much to avoid paying the debt but simply to win a delay.

The Credit Manager's Q&A Corner

Question: Explain the notion of syndication in the context of risk management.

Answer: Syndication is a risk-management process whereby a bank sells portions of a loan to other banks. This allows the original bank to diversify the risk involved in granting the loan.