What is a Rule 26 Discovery Conference in Minnesota Court Cases?

What is a Rule 26 Discovery Conference in Minnesota Court Cases?

Parties to a Minnesota lawsuit must have a Rule 26 discovery conference, which is often done by phone, to discuss how they will handle the discovery and evidence in their lawsuit. The requirements for this are found in Rule 26.06 of the Minnesota Rules of Civil Procedure. When must a Rule 26 discovery conference be…

Cancellation of a Quit Claim Deed under the Minnesota Home Ownership and Equity Protection Act

Cancellation of a Quit Claim Deed under the Minnesota Home Ownership and Equity Protection Act

In the recent real estate collapse, many homeowners entered into contracts with companies, called “equity purchasers,” who told them they could save their home from foreclosure. In these types of transactions, the foreclosed homeowner would deed their home to the equity purchaser, who would redeem the foreclosed property, and then enter into some sort of…

Debt Collections: The Doctrine of Unclean Hands

Debt Collections: The Doctrine of Unclean Hands

Minnesota Court of Appeals Published Decision: Unclean Hands Not Complete Bar to Receiving Equitable Relief On February 17, 2015, the Court of Appeals held in a published decision that “[a] district court does not abuse its discretion by granting equitable relief to a party with unclean hands if the party has purged herself of her…

The Fair Debt Collection Practices Act ("FDCPA")

The Fair Debt Collection Practices Act ("FDCPA")

The Fair Debt Collection Practices Act or “FDCPA” was established as legal protection for consumers against abusive debt collection practices. The statutes’ purpose is to eliminate abusive practices in the collection of consumer debts, promote fair debt collection, and provide consumers with an avenue for disputing and obtaining validation of debt information in order to…

Creditors Can Get Inherited IRA Funds, Supreme Court Says

Creditors Can Get Inherited IRA Funds, Supreme Court Says

US Supreme Court Rules that Inherited IRA Funds are Not Exempt from Claims of Creditors in Bankruptcy Cases On June 12, 2014, the United States Supreme Court ruled in the case of Clark v. Rameker that inherited individual retirement account (IRA) funds are not “retirement funds” for purposes of the exemption of certain assets from…

Foreclosure of 2nd Mortgage in Minnesota

Foreclosure of 2nd Mortgage in Minnesota

This article discusses the basics of Minnesota foreclosures. This part addresses the impact a foreclosure of a first mortgage has on a second mortgage (home equity loans). This is part five of a series on Minnesota foreclosures. Minnesota Foreclosure Law Basics Foreclosure by Advertisement Foreclosure by Action Deficiency Judgments Foreclosure of a 2nd Mortgage Second…

Is my 401(k), IRA, or pension safe from creditors and lawsuits?

Is my 401(k), IRA, or pension safe from creditors and lawsuits?

Many believe that creditors can’t touch their retirement savings. But in many states—including Minnesota—that’s frequently not true. If you have an ERISA-qualified 401(k) or pension plan, your savings are probably safe from creditors. In such plans, your money generally has complete protection under federal law from garnishment, attachment, and other creditor remedies, so long as…

Don’t Unknowingly Convert Your Credit Card Debt to Tax Debt

Don’t Unknowingly Convert Your Credit Card Debt to Tax Debt

In this video, you get answers to these questions: What is the cancellation of debt income when debt is forgiven? How does the IRS consider this debt? What are the exceptions? When is the money not subject to income tax? What are some examples? Introduction Many people who are unable to pay their credit card…

Important Minnesota Cases Involving Fraudulent Transfers | MUFTA

Important Minnesota Cases Involving Fraudulent Transfers | MUFTA

Minnesota has had several major cases involving fraudulent transfers. One case close to point deals with the drastic implications of attempting to take advantage of a bankruptcy proceeding. In Tveten, the debtor had 19 million dollars of debt owed to creditors. On the eve of bankruptcy, he transferred his remaining $700,000 from non-exempt to exempt…

Relevant Information | Minnesota Uniform Transfer Act (MUFTA)

Relevant Information | Minnesota Uniform Transfer Act (MUFTA)

MUFTA is codified in Minnesota Statute’s §513.41 – §513.51. As the fight is generally between the creditor and the transferee, we must understand what a transfer is, and what constitutes an asset. The definitions section is §513.41. A transfer can take place in just about every manner. ““Transfer” means every mode, direct, or indirect, absolute…

Overview of the Minnesota Uniform Fraudulent Transfer Act (MUFTA) (UFTA)

Overview of the Minnesota Uniform Fraudulent Transfer Act (MUFTA) (UFTA)

What is the Minnesota Uniform Transfer Act? MUFTA is codified in Minnesota Statute’s §513.41 – §513.51. MUFTA is Minnesota’s adoption of the Uniform Fraudulent Transfer Act (UFTA). When the legislature adopted the Act it was nearly identical to the Uniform Act itself. While the first version of UFTA came into existence in 1918, the law…

How to Collect a Debt | Debt Collection 101 | Get What You’re Owed

How to Collect a Debt | Debt Collection 101 | Get What You’re Owed

Minnesota collection attorney Aaron Hall describes the debt collection process and explains how you can collect debts owed to you. Transcript We frequently receive calls from people who are owed money. They want to know what are their rights, what are their legal options, how do they get the money that is owed to them….

The Rights of Creditors With Regard to Corporate Debts

The Rights of Creditors With Regard to Corporate Debts

Obtaining financing is a crucial part of most companies’ growth and success, and many lenders advance money in hopes of it being repaid at a profit. Even with financing, however, businesses often fail, making it difficult for lenders to get their money back. Most creditors’ rights are contractual, but Minnesota law provides a few other…

The First Steps Before Garnishing | Minnesota Debt Collection

The First Steps Before Garnishing | Minnesota Debt Collection

Steps by Peter Rosbjerg   With certain exceptions, often involving fraud or deceit of the debtor, a creditor may not garnish assets of a debtor without first obtaining a judgment against the debtor. There are many other steps a debtor must take before garnishment, including docketing the judgment. A creditor also must find out where…

How to Garnish a Debtor's Account at a Financial Institution

How to Garnish a Debtor's Account at a Financial Institution

Bank Account by Stuart Conner If you have a judgment you are trying to collect, and the debtor has funds at a bank or other financial institution, you may garnish the debtor’s account. Obtaining the judgment and finding out where the debtor has assets is probably the most difficult and expensive part of debt collection….

Failure to Honor a Levy

Failure to Honor a Levy

When payers fail to complete disclosure forms or send payments, they are not in compliance with our levy. After the payer is warned and subsequently assessed personally liable for the debt, a 25 percent penalty is added to the original debt. Minn. Stat. §270C.70 provides for assessment against businesses, officers or other individuals responsible for…

Third Party Levy

Third Party Levy

Any financial obligation from a third party to the debtor can be levied. Instead of the third party paying the debtor, they send the payment to the Department of Revenue, and it is applied to the debtor’s unpaid debt. This is a one-time levy and requires the third party to send 100 percent of any…