This bill aims to enhance consumer protection by requiring lenders to pause monthly payments on property that has been seized by law enforcement due to criminal activity. Specifically, it mandates that sellers or lenders suspend billing requirements for victims when their cell phone, vehicle, or other associated property is seized. To initiate this suspension, victims must provide documentation from law enforcement confirming the seizure. Payments can only be resumed once the property is returned to the victim.

Additionally, the bill prohibits sellers or lenders from reporting any failure to make payments on the seized property to collection agencies during the time the property is in law enforcement custody. This provision is designed to protect victims from negative credit implications while they are unable to access their property due to legal circumstances. The proposed changes are to be codified in Minnesota Statutes, chapter 325G, under a new section titled "Victim Payment Suspension."