Minnesota SF1797 requires lenders to pause monthly payments on seized property and prohibits them from reporting payment failures.

Minnesota SF1797 mandates that sellers and lenders must pause monthly payments on property seized as a result of a crime. This pause continues until the property is returned to the victim. Additionally, the bill prohibits lenders from reporting to collection agencies that a victim has failed to make payments on seized property during the seizure period. The bill proposes coding for these provisions in Minnesota Statutes, chapter 325G.

Minnesota SF1797 requires lenders to pause monthly payments on seized property and prohibits them from reporting payment failures.

Minnesota SF1797 mandates that sellers and lenders must pause monthly payments on property seized as a result of a crime. This pause continues until the property is returned to the victim. Additionally, the bill prohibits lenders from reporting to collection agencies that a victim has failed to make payments on seized property during the seizure period. The bill proposes coding for these provisions in Minnesota Statutes, chapter 325G.