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Minnesota STATE LAW


– 75% of earnings or amount equal to 40 times the federal minimum hourly wage, whichever is greater


– Legal: 6%
– Judgment: About 5% (changes annually)


– Open Account (credit card): 6 years
– Written Contract: 6 years
– Domestic Judgment: 10 years
– Foreign Judgment: 10 years


– $100 or amount of check, whichever is greater, plus interest, and attorney fees if check is over $1250

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One party state

(Minnesota Statutes Annotated)

NOTE: Minnesota updates amounts every two years; check statutes for updates.

– Can use either the state exemption below or federal exemptions
– The State of Minnesota has exempted the property and income below from seizure by the bankruptcy court to pay creditors:

Real Property:

– Real property or mobile home to $200,000 for non–farm land, $500,000 if used in farming, up to 1/2 acre in city or 160 acres elsewhere [510.01, 510.02, 550.37(12)]

Personal Property:

– Burial place and church pew [550.37(3)
– Motor vehicle to $2,000 ($20,000 if modified for disabled person) [550.37(12)(a)
– Appliances, furniture, radio, phonographs and TV to $4,500 [550.37(4)(b)
– Bible, books and musical instruments, unlimited amount [550.37(2)
– Clothing, watch, food and utensils, unlimited amount [550.37(4)(a)
– Teaching materials of public school teacher, unlimited amount [550.37(8)
– Farm machines, implements, livestock, farm produce and crops up to $13,000 total [550.37(5)
– Personal injury and wrongful death recoveries, unlimited amount [550.37(22)
– Proceeds for damaged exempt property up to exemption amount [550.37(9) and (16)
– Tools, implements, machines, business furniture, stock in trade and library used in business up to $5,000 total [550.37(6)]

Insurance / Annuities:

– Police, fire, or beneficiary association benefits, unlimited amount [550.37(11)
– Accident or disability insurance proceeds, unlimited amount [550.39
– Life insurance proceeds if beneficiary is spouse or child of insured up to $20,000 plus $5,000 per dependent [550.37(10)
– Fraternal society benefits, unlimited amount [648.18
– Un matured life insurance contract dividends, interest or loan value up to $4,000 if insured is debtor or dependent [550.37(23)

Pensions / Retirement Plans:

– Retirement benefits and IRAs up to $30,000 (present value) [550.37(24)
– Unpaid private retirement benefits [181B.16
– Public employees, unlimited amount [353.15
– State employees, unlimited amount [352.96
– State troopers, unlimited amount [352B.071]

Public Benefits / Entitlements:

– Veterans' benefits; workers' compensation; AFDC; general or supplemental assistance; supplemental security income; crime victims' compensation; unemployment compensation


– 75% of earned but unpaid wages [571.922
– Earned but unpaid wages, unlimited amount if paid within six months of returning to work and if debtor has ever received welfare [550.37(13)
– Wages deposited in bank accounts for 20 days [550.37–13
– Wages of released inmates paid within six months of release, unlimited amount [550.37(14)
– Earnings of a minor child, unlimited amount [550.37(15)]


– Property of a business partnership, unlimited amount [323.24]