Minnesota Statute of Limitations on Debt Collection

The statute of limitations is an established rule that sets a time limit within which a creditor is able to sue you for payment of a debt. The amount of time that a creditor has to sue you is different for each state and if the time that is allowed by your state has passed, a creditor is unable to sue you for the debt. In Minnesota:

• Unless it is otherwise prescribed by the Uniform Commercial Code, an action that is based on a contract or another obligation, whether implied or expressed: 6 years (Chapter 541)

There are situations that can put a “toll” on a statute of limitations. This will put the statute on hold and it may allow for a party to file for a lawsuit that goes outside of the limitations period. In Minnesota, if there is a new written acknowledgement or a payment, it may toll the statute of limitations, which can allow for the party to have extra time to file a lawsuit.

If you want to get any more information or if you have questions about the Statute of Limitations in Minnesota, contact The Consumer Advocacy Center at 312-782-5808.