Maine Debt Collection Agency Laws :Summit A•R

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.

Convert more aged receivables into bottom-line revenue.

Our experienced collections specialists provide the best of both worlds: collection rates up to double the industry average, but with a delicate touch to protect your company’s relationships and good name. Schedule a free no-obligation consultation and learn how Summit A•R can put your balance sheets back in the black.

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