Maine Debt Collection Agency Laws

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.

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