Maine Debt Collection Laws and Statutes

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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.