Minnesota is known as the land of lakes and home to the Mall of the Americas. Minnesota has a diverse economy based on finished products and services. Thirty-three of the top 1,000 publicly traded companies are located in Minnesota. Minnesota is ranked #21 for population and #31 for population density.

As of 2018, over 5.3 million people called Minnesota home. Minneapolis is the largest city in Minnesota.

Income

The median state income is $70,218. As of 2018, the minimum wage is $7.87 per hour. Unfortunately, 12.3% of Minnesotan children under 18 live in poverty. For residents overall, 9.9% of all people in Minnesota live under the poverty level.

  • Median state income: $70,218
  • Minimum wage: $7.87/hour
  • Children in poverty: 12.3%
  • People in poverty: 9.9%

Is Minnesota a Community Property State?

Minnesota is not a community property state. Therefore your assets are not seen as equally owned by you and your spouse. Currently, there are only 10 states that are community property states. In the state of Minnesota, the judge will decide which assets are shared by you and your spouse, and what the equity is for each.

There are 10 community property states in which the state sees your assets as community property are Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, New Mexico, and Wisconsin.

Homeowners


More than half (72.7%) of Minnesotans hold a mortgage. The median home price in Minnesota is $226,900 (2018). Of course, that median price depends on the location with some areas being much higher.

  • Homeowner rate: 72.7%
  • Median home price: $226,900

Employment

Minnesota has a current unemployment rate of 3.3%. However, the underemployment rate is 7.7%. Underemployment is the percentage of civilian workers who are unemployed, employed part-time or are not seeking employment.

If this is you, we can help. Pacific Debt offers Minnesota debt relief solutions tailored to your unique situation and budget. Our certified counselors help you work up a budget, and explain your options.

  • Unemployment: 3.3% (2018)
  • Underemployment: 7.7% (2017)

Minnesota Debt

Minnesotans carry a lot of debt. The average credit card debt is $6,761 (2018). The average student loan debt is $31,579. When you add all that debt on top of the cost of homes (rental or owned), versus the median income, it is very easy for Minnesotans to get into debt.

  • Avg credit card debt: $6,761 (2018)
  • Avg mortgage debt: $175,993 (2017)
  • Avg student loan debt: $31,579 (2017)

Minnesota Statute of Limitations

Minnesota’s statute of limitations lays out maximum time periods that debt collectors can take action against a delinquent debt. These statutes of limitations begin on the date that your debt goes delinquent.

For debts taken out in Minnesota, the following are the statutes of limitations for different types of debt.

  • Oral agreements: 4-6 years
  • Written contracts: 4-6 years
  • Promissory notes: 6 years
  • Credit cards and other revolving loans: 6 years

Minnesota Debt Relief & Debt Consolidation

If you have more debt than you can pay off, Pacific Debt can help you consolidate your debt and learn to live debt free. Since 2002, we’ve settled over $200 million in debt for thousands of clients. We are a nationally top-ranked debt relief company located in San Diego.

We will help you work through our proven and comprehensive debt relief program. Your certified debt relief counselor will review all your options. If debt settlement is right for you, we move forward with our debt consolidation program and work to save you money. Pacific Debt can help with most unsecured debt like credit cards, personal loans, medical bills and repossessions.

It is not an easy process and it won’t happen overnight, but you can do it. Pacific Debt will be there every step of the way to help.

Debt Collection Laws

Minnesotans are protected against unscrupulous debt collectors. The federal Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive or harassing bill collection practices. In addition, the Minnesota Fair Debt Collection Practices Act (MFDCPA) adds protections against more types of collectors and actions. If you are a victim of any of these actions, you may take legal action against them.

Overall, debt collectors can NOT:

  • Charges more than 10% interest
  • Garnish more than 25% of wages
  • Use/threaten physical force or criminal tactics to harm you, your property, or your reputation
  • Accusing you of committing a crime for not paying the debt
  • Make/threaten to make defamatory statements to someone else
  • Threaten arrest, to seize assets, or garnish wages, unless actually planning to take such action
  • Use obscene or profane language
  • Cause you to spend money you wouldn’t otherwise have spent (ie long-distance telephone calls)
  • Call you repeatedly or let your phone ring repeatedly
  • Call frequently
  • Contact your employer, except to verify employment or health insurance status, garnish wages or locate you
  • Reveal information about debt to anyone except your spouse or your parents if a minor.
  • Publicly publish your name for failing to pay
  • Send a postcard or letter with revealing information on the envelope
  • Claim to be someone other than a debt collector, including a governmental official
  • Use stationary that appears to be from a law firm
  • Charge you collection or attorney’s fees unless legally allowable
  • Threaten to report you to a credit reporting agency if they have no intention of doing so
  • Send a letter claiming to come from a claim, credit, audit, or legal department unless it actually is

Debt collectors must:

  • Disclose caller identification
  • May contact your family to locate you
  • Must serve you with notice of a lawsuit if suing you

Bankruptcy Court Information

Bankruptcy is a legal action that can erase most of your debt as well as your credit history. It is not an action to take lightly. If you do, you must follow the following steps in Minnesota.

Persons filing for bankruptcy must:

  • Complete credit counseling within six months before filing for bankruptcy.
  • Complete a financial management instructional course after filing bankruptcy.
  • Complete a Bankruptcy Act Means Test to determine if you are eligible for a Chapter 7 or 13 bankruptcy
  • Itemize current income sources; major financial transactions; monthly living expenses; debts (secured and unsecured); and property (all assets and possessions, not just real estate).
  • Collect last 2 years of tax returns, deeds to real estate you own, car titles, and loan documents
  • File for bankruptcy
      • Chapter 7 bankruptcy fee is $306
      • Chapter 13 bankruptcy fee is $281
  • Meet with court assigned bankruptcy trustee
  • Attend a Meeting of Creditors
  • Confirm plan if filing for Chapter 13 bankruptcy

DISCLAIMER: We are not lawyers and are not giving legal advice. Before filing bankruptcy, talk to a lawyer in your state.

Minnesota Better Business Bureau

Pacific Debt is an A+ rated business with the BBB. We have been accredited since 2010. We have received 4.87 out of five stars based on 40 customer reviews with the BBB.

Minnesota Debt Relief Reviews

by Dee S.
I am currently in the first stage of…
I am currently in the first stage of the program and so far it has been a great experience. Everyone I have talked to has been very professional and empathetic to our situation. I can only hope that the rest of this process goes as well and I can be free of debt with no regrets.
by Customer
I have had a great experience so far
I have had a great experience so far. I would recommend this company to help take control of your finances.
by Rich H
New Begining
If you are thinking there is no end insight and seeing half of your monthly payments going in their bank while the only means for daily needs is another swipe digging the hole deeper. Do yourself a favor do your homework than call Pacific Debt. and listen to your wayout. They work with you so you can see an end and in good time so you realize the sooner you start you can count down to the new begining.

Minnesota Cities Served by Pacific Debt

Ada
Adams
Adrian
Afton
Aitkin
Akeley
Albany
Alberta
Albert Lea
Albertville
Alden
Aldrich
Alexandria
Alpha
Altura
Alvarado
Amboy
Andover
Annandale
Anoka
Appleton
Apple Valley
Arco
Arden Hills
Argyle
Arlington
Arnold
Ashby
Askov
Atwater
Audubon
Aurora
Austin
Avoca
Avon
Babbitt
Backus
Badger
Bagley
Balaton
Barnesville
Barnum
Barrett
Barry
Battle Lake
Baudette
Baxter
Bayport
Beardsley
Beaver Bay
Beaver Creek
Becker
Bejou
Belgrade
Bellechester
Belle Plaine
Bellingham
Beltrami
Belview
Bemidji
Bena
Benson
Bertha
Bethel
Bigelow
Big Falls
Bigfork
Big Lake
Bingham Lake
Birchwood Village
Bird Island
Biscay
Biwabik
Blackduck
Blaine
Blomkest
Blooming Prairie
Bloomington
Blue Earth
Bluffton
Bock
Borup
Bovey
Bowlus
Boyd
Boy River
Braham
Brainerd
Brandon
Breckenridge
Breezy Point
Brewster
Bricelyn
Brooklyn Center
Brooklyn Park
Brook Park
Brooks
Brookston
Brooten
Browerville
Brownsdale
Browns Valley
Brownsville
Brownton
Bruno
Buckman
Buffalo
Buffalo Lake
Buhl
Burnsville
Burtrum
Butterfield
Byron
Caledonia
Callaway
Calumet
Cambridge
Campbell
Canby
Cannon Falls
Canton
Carlos
Carlton
Carver
Cass Lake
Cedar Mills
Center City
Centerville
Ceylon
Champlin
Chandler
Chanhassen
Chaska
Chatfield
Chickamaw Beach
Chisago City
Chisholm
Chokio
Circle Pines
Clara City
Claremont
Clarissa
Clarkfield
Clarks Grove
Clearbrook
Clear Lake
Clearwater
Clements
Cleveland
Climax
Clinton
Clitherall
Clontarf
Cloquet
Coates
Cobden
Cohasset
Cokato
Cold Spring
Coleraine
Cologne
Columbia Heights
Comfrey
Comstock
Conger
Cook
Coon Rapids
Corcoran
Correll
Cosmos
Cottage Grove
Cottonwood
Courtland
Cromwell
Crookston
Crosby
Crosslake
Crystal
Currie
Cuyuna
Cyrus
Dakota
Dalton
Danube
Danvers
Darfur
Darwin
Dassel
Dawson
Dayton
Deephaven
Deer Creek
Deer River
Deerwood
De Graff
Delano
Delavan
Delhi
Dellwood
Denham
Dennison
Dent
Detroit Lakes
Dexter
Dilworth
Dodge Center
Donaldson
Donnelly
Doran
Dover
Dovray
Duluth
Dumont
Dundas
Dundee
Dunnell
Eagan
Eagle Bend
Eagle Lake
East Bethel
East Grand Forks
East Gull Lake
Easton
Echo
Eden Prairie
Eden Valley
Edgerton
Edina
Effie
Eitzen
Elba
Elbow Lake
Elbow Lake
Elgin
Elizabeth
Elko
Elk River
Elkton
Ellendale
Ellsworth
Elmdale
Elmore
Elrosa
Ely
Elysian
Emily
Emmons
Erhard
Erskine
Evan
Evansville
Eveleth
Excelsior
Eyota
Fairfax
Fairmont
Falcon Heights
Faribault
Farmington
Farwell
Federal Dam
Felton
Fergus Falls
Fertile
Fifty Lakes
Finlayson
Fisher
Flensburg
Floodwood
Florence
Foley
Forada
Forest Lake
Foreston
Fort Ripley
Fosston
Fountain
Foxhome
Franklin
Frazee
Freeborn
Freeport
Fridley
Frost
Fulda
Funkley
Garfield
Garrison
Garvin
Gary
Gaylord
Gem Lake
Geneva
Genola
Georgetown
Ghent
Gibbon
Gilbert
Gilman
Glencoe
Glenville
Glenwood
Glyndon
Golden Valley
Gonvick
Goodhue
Goodridge
Good Thunder
Goodview
Graceville
Granada
Grand Marais
Grand Meadow
Grand Rapids
Granite Falls
Grant
Grasston
Greenbush
Greenfield
Green Isle
Greenwald
Greenwood
Grey Eagle
Grove City
Grygla
Gully
Hackensack
Hadley
Hallock
Halma
Halstad
Hamburg
Ham Lake
Hammond
Hampton
Hancock
Hanley Falls
Hanover
Hanska
Harding
Hardwick
Harmony
Harris
Hartland
Hastings
Hatfield
Hawley
Hayfield
Hayward
Hazel Run
Hector
Heidelberg
Henderson
Hendricks
Hendrum
Henning
Henriette
Herman
Hermantown
Heron Lake
Hewitt
Hibbing
Hill City
Hillman
Hills
Hilltop
Hinckley
Hitterdal
Hoffman
Hokah
Holdingford
Holland
Hollandale
Holloway
Holt
Hopkins
Houston
Howard Lake
Hoyt Lakes
Hugo
Humboldt
Hutchinson
Ihlen
Independence
International Falls
Inver Grove Heights
Iona
Iron Junction
Ironton
Isanti
Isle
Ivanhoe
Jackson
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Jasper
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Johnson
Jordan
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Karlstad
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Kasson
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Kelliher
Kellogg
Kennedy
Kenneth
Kensington
Kent
Kenyon
Kerkhoven
Kerrick
Kettle River
Kiester
Kilkenny
Kimball
Kinbrae
Kingston
Kinney
La Crescent
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Lake Benton
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Lake City
Lake Crystal
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Lakefield
Lake Henry
Lakeland
Lakeland Shores
Lake Lillian
Lake Park
Lake St. Croix Beach
Lake Shore
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Lake Wilson
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Lengby
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Leonidas
Leota
Le Roy
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Le Sueur
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Lexington
Lilydale
Lindstrom
Lino Lakes
Lismore
Litchfield
Little Canada
Little Falls
Littlefork
Little Rock
Long Beach
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Long Prairie
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Loretto
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Lucan
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Lyle
Lynd
Mabel
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Mayer
Maynard
Mazeppa
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Medford
Medicine Lake
Medina
Meire Grove
Melrose
Menahga
Mendota
Mendota Heights
Mentor
Middle River
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Milaca
Milan
Millerville
Millville
Milroy
Miltona
Minneapolis
Minneiska
Minneota
Minnesota City
Minnesota Lake
Minnetonka
Minnetonka Beach
Minnetrista
Mizpah
Montevideo
Montgomery
Monticello
Montrose
Moorhead
Moose Lake
Mora
Morgan
Morris
Morristown
Morton
Motley
Mound
Mounds View
Mountain Iron
Mountain Lake
Murdock
Myrtle
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Newfolden
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Newport
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Nicollet
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Nimrod
Nisswa
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Northfield
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Northome
Northrop
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Norwood Young America
Oakdale
Oak Grove
Oak Park Heights
Oakport
Odessa
Odin
Ogema
Ogilvie
Okabena
Oklee
Olivia
Onamia
Ormsby
Orono
Oronoco
Orr
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Osakis
Oslo
Osseo
Ostrander
Otsego
Ottertail
Owatonna
Palisade
Parkers Prairie
Park Rapids
Paynesville
Pease
Pelican Rapids
Pemberton
Pennock
Pequot Lakes
Perham
Perley
Peterson
Pierz
Pillager
Pine City
Pine Island
Pine Point
Pine River
Pine Springs
Pipestone
Plainview
Plato
Pleasant Lake
Plummer
Plymouth
Ponemah
Porter
Preston
Princeton
Prinsburg
Prior Lake
Proctor
Quamba
Racine
Ramsey
Randall
Randolph
Ranier
Raymond
Redby
Red Lake
Red Lake Falls
Red Wing
Redwood Falls
Regal
Remer
Renville
Revere
Rice
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Richfield
Richmond
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Riverton
Robbinsdale
Rochester
Rock Creek
Rockford
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Rogers
Rollingstone
Ronneby
Roosevelt
Roscoe
Roseau
Rose Creek
Rosemount
Roseville
Rothsay
Round Lake
Royalton
Rush City
Rushford
Rushford Village
Rushmore
Russell
Ruthton
Rutledge
Sabin
Sacred Heart
St. Anthony city (Hennepin County)
St. Anthony city (Stearns County)
St. Bonifacius
St. Charles
St. Clair
St. Cloud
St. Francis
St. Hilaire
St. James
St. Joseph
St. Leo
St. Louis Park
St. Martin
St. Marys Point
St. Michael
St. Paul
St. Paul Park
St. Peter
St. Rosa
St. Stephen
St. Vincent
Sanborn
Sandstone
Sargeant
Sartell
Sauk Centre
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Savage
Scanlon
Seaforth
Sebeka
Sedan
Shafer
Shakopee
Shelly
Sherburn
Shevlin
Shoreview
Shorewood
Silver Bay
Silver Lake
Skyline
Slayton
Sleepy Eye
Sobieski
Solway
South Haven
South St. Paul
Spicer
Springfield
Spring Grove
Spring Hill
Spring Lake Park
Spring Park
Spring Valley
Squaw Lake
Stacy
Staples
Starbuck
Steen
Stephen
Stewart
Stewartville
Stillwater
Stockton
Storden
Strandquist
Strathcona
Sturgeon Lake
Sunburg
Sunfish Lake
Swanville
Taconite
Tamarack
Taopi
Taunton
Taylors Falls
Tenney
Tenstrike
The Lakes
Thief River Falls
Thomson
Tintah
Tonka Bay
Tower
Tracy
Trail
Trimont
Trommald
Trosky
Truman
Turtle River
Twin Lakes
Twin Valley
Two Harbors
Tyler
Ulen
Underwood
Upsala
Urbank
Utica
Vadnais Heights
Vergas
Vermillion
Verndale
Vernon Center
Vesta
Victoria
Viking
Villard
Vineland
Vining
Virginia
Wabasha
Wabasso
Waconia
Wadena
Wahkon
Waite Park
Waldorf
Walker
Walnut Grove
Walters
Waltham
Wanamingo
Wanda
Warba
Warren
Warroad
Waseca
Watertown
Waterville
Watkins
Watson
Waubun
Waverly
Wayzata
Welcome
Wells
Wendell
Westbrook
West Concord
Westport
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West Union
Whalan
Wheaton
White Bear Lake
White Earth
Wilder
Willernie
Williams
Willmar
Willow River
Wilmont
Wilton
Windom
Winger
Winnebago
Winona
Winsted
Winthrop
Winton
Wolf Lake
Wolverton
Woodbury
Wood Lake
Woodland
Woodstock
Worthington
Wrenshall
Wright
Wykoff
Wyoming
Zemple
Zimmerman
Zumbro Falls
Zumbrota

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