Legal Question in Credit and Debt Law in Minnesota

How long can Wells Fargo legally hold debt on their books? Do they have any right to collect or sue for debt if they or a collection company claiming to represent them on their behalf fails to validate the debt at all after a written dispute was submitted and signed for?

Thanks!

C.Frank


Asked on 1/04/11, 8:57 am

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Normally, Minnesota has a Six year statute of limitations for contracts. There are technical exceptions which may apply.

If the collection agency proceeds without verification following written demand, they may be in violation of the Federal Fair Debt Collection Practices Act, subjecting them to damages and attorneys fees.

Call or email for follow up consultation.

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Answered on 1/09/11, 9:17 am


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