Best Bankruptcy Lawyers in Minnetonka, MN

So Your Contractor Messed Up, and Now They Owe You Money. Can You Collect From Them? If your contractor was licensed, you have a several options to recover for your damages. When the State of Minnesota licenses a contractor, it is representing to Minnesota residents that the contractor is capable of adequately performing their trade. And it financially backs up that license through the Contractor Recovery Fund. The Contractor Recovery Fund was enacted by the legislature to allow individuals to recover damages from the State to satisfy their judgments against licensed contractors. Minnesota allows individuals to recover up to $75,000 from a licensee, but they are only allowed to recover their actual and direct out-of-pocket costs. And any claim to the Contractor Recovery Fund must be made within two years after receiving a judgment against the contractor. To access Minnesota’s Contractor Recovery Fund, the property at issue must be located in Minnesota, individuals must ensure that their contractor was licensed at the time of their work, and there must be a final judgment against the contractor. Once the individual has attempted to collect against the contractor, they can apply to the Contractor Recovery Fund. The application will be reviewed by the commissioner, who will resolve the claim. If you have a claim against a contractor or believe you’re entitled to payment from the contractor recovery fund, give us a call.