Maine Debt Collection Laws and Statutes

Maine Debt Collection Laws and Statutes

AccountsReceivable.com handles debt collections throughout the entire state of Maine.

Below you will find important information on Maine state debt recovery laws including: Maine Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.

STATE: MAINE

Interest Rate

  • Legal: T-Bill rate + 3%
  • Judgment: T-Bill Rate + 6% (4.36% for 2006) (4.99% for 2007)

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Account: 6
  • Sale of Goods: 4
  • 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 the amount by which a debtor’s income exceeds the minimum wage, whichever is less; after judgment only.

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