If you are a creditor attempting to collect a debt, but the person owing the debt is refusing to pay, there are legal remedies available to you. First, you must initiate a lawsuit and obtain a judgment in your favor for the amount of debt owed to you. If you serve the debtor with a…
Is a creditor, if you request an Order for Disclosure from a court ordering the debtor provide you with information about the debtor’s assets, but the debtor doesn’t obey the court, you are not done. If the debtor fails to comply with the court’s Order for Disclosure and does not provide you with the debtor’s…
The first step to collecting a debt owed is obtaining a judgment from a court. Once you have a judgment, you can begin the collection process. If the debtor does not automatically pay, you will have to do some work. After obtaining a judgment and docketing the judgment, you will need to find out…
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 there are assets or finances…
Exceptions to the Judgment Requirement Before Garnishment There are special circumstances under which a court could allow a creditor to garnish an account or other asset of a debtor prior to obtaining a judgment, but those circumstances are rare. Courts may allow garnishment before judgment when: there is concern that the debtor has or is…
Homeowners who are facing a foreclosure of their home are understandably concerned about the impact this will have on them and whether they will owe money to the mortgage company (hereafter “bank”) after the foreclosure. This is part four of a series on Minnesota foreclosures, explaining deficiency judgments that result from a foreclosure in Minnesota….
Many Minnesota homeowners are facing foreclosure during these difficult economic times. Minnesota homeowners may wonder about the foreclosure process in Minnesota and the legal consequences of a foreclosure. This is part two of a series on Minnesota foreclosures, and covers the basics of foreclosure by advertisement. Before reading this section, you might want to read…
If the bank is foreclosing on your home, you may be wondering about the process and the legal consequences of a Minnesota foreclosure. This is part three of a series on Minnesota foreclosures, explaining foreclosure by action. For an overview of Foreclosure by Advertisement and Foreclosure by Action, read the first part on Minnesota Foreclosures….
This article discusses the basics of Minnesota foreclosures. This is part one of a series on Minnesota foreclosures: Minnesota Foreclosure Law: Foreclosure Basics Minnesota Foreclosure Law: Foreclosure by Advertisement Minnesota Foreclosure Law: Foreclosure by Action Minnesota Foreclosure Law: Deficiency Judgments Minnesota Foreclosure Law: Foreclosure of a 2nd Mortgage Let’s start by explaining what a foreclosure…