Minnesota HF2564 requires lenders to pause monthly payments on seized property and prohibits reporting payment failures to collection agencies.
Minnesota HF2564 mandates that sellers and lenders suspend monthly payments on seized property, such as cell phones and vehicles, when these items are taken as evidence in a crime. The bill also prohibits lenders from reporting payment failures to collection agencies while the property remains seized. The law aims to protect victims from financial strain during the period when their property is in law enforcement custody.
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