Maine Collection Agency Laws

Maine Collection Agency Laws that regulate debt collection.

The Creditors Guide To Maine Collection Laws

Following is a some important information on MaineCollection Laws including: Maine Statutes, Maine Judgments, Maine Garnishments, Maine Interest Rates, Maine Bad Check Laws and Maine Collection Agency Requirements. Please be sure that you check the Maine State website for the latest updates to the Maine Collection Agency Laws.

INTEREST RATE

• Legal: 8%
• Post Judgment: 15% annual (less than $30,000) T-Bill rate over $30,000

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 6
• Written Contract: 6 + 20 (with attestment) Domestic Judgment: 20
• Foreign Judgment: 20

BAD CHECK LAWS (CIVIL PENALTY)
Amount due, court costs, service costs & collection costs

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.

COLLECTION AGENCY BOND & LICENSE

• 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.

Recommended Maine Collection Agency Listings:

MaineCollection Agency
Debt-Collection-Laws.com offers you a directory of the top ranked debt collection agencies in the United States by state.

Please note this website site not intended to give legal advice and may not be complete or up to date with the most current Maine collection laws changes.

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