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judgement

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tammyv42

Junior Member
What is the name of your state? Minnesota
I have been told that in Mn, to add intersest and collection fees that they have to have that listed on the orginal judgement form. Other wise they judgement is the amt due. :eek:
 


hbreen

Member
I believe your information is incorrect. According to LawDog.com, here is the information in regards to interest and judgments:

Interest:

Legal rate: 6% per annum unless otherwise agreed upon between the parties in writing. (Sec. 334.01.)

Judgment rate: The rate of interest on judgment is determined by the court administrator on or before December 20th of each year based on the secondary market yield of one year United States treasury bills, for the most recent calendar month, reported on a monthly basis in the latest statistical release of the board of governors of the federal reserve system. (Sec. 549.09.)

So if you have a judgment against you, you are much better off paying it when it is done then to blow it off and wait for someone to garnish your wages! Again, from LawDog:
A judgment creditor may execute the judgment by levying on the real and personal property of the judgment debtor (Sec. 550.10.), including wages. Unless the judgment is for child support, the maximum part of the aggregate disposable earnings of an individual for any pay period subjected to an execution levy may not exceed the lesser of: (1) 25 percent of the judgment debtor's disposable earnings; or (2) the amount by which the judgment debtor's disposable earnings exceed 40 times the federal minimum hourly wages in effect at the time the earnings are payable, times the number of work weeks in the pay period. (Sec. 550.136.)
 

tammyv42

Junior Member
But it also says that in MN small claims court guide lines. These are to be filed on the prejudgement paper work if you wants these cost included. Those are the guidleines that you posted if you are rewarded the intersest and fees at court time.


are you in MN??
 

hbreen

Member
No, I'm in SC, but I was able to search for that information. Normally (at least in SC), a "memorandum of costs" can be filed after a time frame to add on any post-judgment interest and any additional costs that may be incurred in the attempt to get someone to pay the debt that a judge said had to be paid. The information I posted is from Minnesota. If you want to check - look at the state statutes referrenced in my posting and see for yourself.
 

JETX

Senior Member
tammyv42 said:
I have been told that in Mn, to add intersest and collection fees that they have to have that listed on the orginal judgement form. Other wise they judgement is the amt due. :eek:
Of course, we can't respond as to what specifics someone else might have 'told' you and what/where it might apply.... however, I will provide the following MN statute:
549.09 Interest on verdicts, awards, and judgments.
(a) When a judgment or award is for the recovery of money, including a judgment for the recovery of taxes, interest from the time of the verdict, award, or report until judgment is finally entered shall be computed by the court administrator or arbitrator as provided in clause (c) and added to the judgment or award.
Source: http://www.revisor.leg.state.mn.us/st2003/549/

Further, there is nothing in the statutes prohibiting interest in Conciliatory Court (MN version of 'small claims'):
http://www.revisor.leg.state.mn.us/st2003/491A/
 

tammyv42

Junior Member
you know though, One day I get a notice that on such a date I owe $$ and must be paid by april 15. 2005

Three days later! I get a bill that $$ is due by march 10th. ANd that secound
bill is for $400.00 more dollars

Now I am trying to get this paid and done with. it was a mistake in the first place. and Every time I turnaround there is a new letter and new amt.

I asked that the owener contact me directly as his staff is off the wall and to
no avail. they ignore me. I dont know what to do to get this DONE>

any Ideas.. I am lost. I dont know if I should get a attorney to get them ot answer me or what. :(
 

JETX

Senior Member
tammyv42 said:
Now I am trying to get this paid and done with.
Okay, real simple.
Contact the court and ask THEM how much is owed. Then pay the court. Get a receipt. Ask them to issue a 'Satisfaction of Judgment'.
 

JETX

Senior Member
tammyv42 said:
Will that work in MN?
Contact the court and ask THEM how much is owed. Then pay the court. Get a receipt. Ask them to issue a 'Satisfaction of Judgment'.
 

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