Legal Question in Consumer Law in Minnesota

My husband lost his job and had to give up his park model home he had on some property up north. My husband did offer to pay the bank that had the loan a little each month on the loan until he could get back on his feet and they refused, so the bank repossessed it. Shortly after they picked up the model home, my husband recieved a letter stated they sold it for $4000 and he owed the remaining amount of $18xxx.00 plus it would be tacking on $3.50 per day in interest until he paid it. He then received a notice from a collection agency saying they were going after him for the owed amount. Now, the local police department has left a message on our door saying they have some important documents and would like him to call them so they could deliver them.....we are assuming it is a summons for court on the repossession. My name was NOT on this loan. My question is, if he puts his assets; ie, truck, boat, etc, in my name, can they be a part of any judgement?

Asked on 7/21/15, 7:40 am

David Anderson Anderson Business Law LLC

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You have certain rights to Exemptions under MN law

Plus they may be limited in their remedies to collect excess under contract

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You should not delay

Answered on 7/21/15, 8:02 am

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