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.