State Resource Center > Maine | Different State?
Choosing an Maine Collection Agency
Successfully collecting on your delinquent accounts is easiest when you work with a collection agency that’s familiar with the ins and outs of Maine collection law. A Maine collection agency can dramatically improve your chances of a successful debt recovery.
Time is of the essence when it comes to Maine collections. For the best chances of a successful recovery, it’s important to contact a qualified debt collection agency at the first sign of trouble.
Maine Collection Laws Interest Rate
| Legal: | 8% |
| Judgment: | 15% if under $30,000, else T-Bill rate |
Maine Collection Laws Statute Of Limitations
| Open Account: | 6 years |
| Written Contract: | 6 years |
| Domestic Judgment: | 20 years |
| Foreign Judgment: | 20 years |
Maine Collection Laws Bad Check Laws (NSF) (Civil Penalty)
| Amount due, court costs, service costs & collection costs |
Maine Collection Laws General Garnishment Exemptions
| You may garnish 25% of disposable income or 40 times the federal minimum wages per week (whichever is less) After judgment only. |
Maine Collection Laws Collection Agency Bond & Licensing Rules
| Bond: | $25,000 to $50,000 |
| License: | Yes |
| Fee: | $400 yearly |
| Exemption for out-of-state collectors: Contact state authority. Licensing authority is allowing some exemptions to out-of-state agencies that collect for nonresident creditors and are not soliciting. | |
Disclaimer: While we strive to keep our state resource data accurate and up-to-date, the information contained on this page is provided without any warranty (expressed or implied), and should not be considered legal advice. We assume no liability for its use.
Summit was there every step of the way with patience, good humor, and advice. We received payment in record time. I will definitely use Summit again for any of our debt collection needs.
Alison D., Credit Manager
International Distributor
International Distributor
Summit AR handled the accounts extremely professionally and kept that quality working relationship with our client intact. Best of all we received a 75% recovery rate. I would recommend them to any company.
Micah B., Director
National Franchisor
National Franchisor
You've been able to get our problem accounts paid in full so that I can focus on more profitable activities
Owner
IT Systems Co.
IT Systems Co.
I've been very impressed with how quickly you've recovered on accounts we thought were lost for good... many thanks!
Partner
Law Firm
Law Firm
You are definitely not the typical collection agency. I've experienced nothing but professionalism and unexpectedly good results versus my former agency... You actually give collection agencies a good name!
Manager
Medical Supply Co.
Medical Supply Co.
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