Maine Collection Agencies

Maine collection agencies are a smart business solution when dealing with customers who owe you money won't pay.

Maine businesses face a number of collections problems. Unpaid bad debt creates negative cash flow for your business.

If your in house collections efforts are not consistent and effective, you lose not only money, but productivity as well, because you're having to dedicate labor time to "chasing after" these delinquent accounts.

To better recover on these past due accounts, many Maine businesses turn to Maine collection agencies.

How Can A Maine Collection Agency Help Me?

A Maine debt collection agency can help your business collect its bad debts by:

Mail
Typically, collection agencies make use of a number of letters sent to the debtor, called demand letters. These are often very effective in getting the debtor's attention, especially since they're coming from a neutral third party. They're written to remind them of their obligations, and get them to pay or make payment arrangements to satisfy the debt.

Phone
If, after a series of demand letters don't prove effective, a Maine collection agency will then make phone calls to the debtor.

Legal Options
Maine debt collection companies often can take legal action, up to and including filing suit, if both the demand letters or phone calls haven't been successful.

Areas Served in Maine

Maine collection agencies offer coverage statewide, including:

• Portland
• Lewiston
• Bangor
• South Portland
• Auburn
• Brunswick
• Biddeford
• Sanford
• Augusta
• Scarborough

Choosing A Maine Commercial Collection Agency

When choosing a Maine collection agency, here are a few areas to pay attention to:

Debt Collection Techniques

• ask for sample demand letters that they will be sending to your clients. You want to make sure the language is both strong enough to get their attention, but doesn't alienate your customers. You also want to make sure they abide by the federal Fair Debt Collection Practices Act (FDCPA), and other state collections laws.

  The FDCPA forbids abusive, threatening and obscene language when dealing with debtors, and that they be treated with respect.

• Ask how is debtor information forwarded to the collection agency.
• When and how is collected monies sent to your business.
• How can your business monitor the collections activity.

Company History and Reputation
Ask for references of other similar businesses they've worked with; ask how long they've been in business. Many agencies come and go, so make sure you're dealing with a Maine collection agency that has stability.

When you're ready to hire a Maine collection agency, let DebtCollectionSteps.com help you. Fill out the quote form below, and we can refer you to an agency that serves your area.

Maine Collection Agency Laws Summary

• Maine Collection Laws Interest Rate
  
  Legal: 8%
  Post Judgment: 15% annual (less than $30,000) T-Bill rate over $30,000
  
  
• Maine Collection Laws Statute Of Limitations (Years)
  
  Open account: 6
  Written Contract: 6 + 20 (with attestment) Domestic Judgment: 20
  Foreign Judgment: 20
  
  

• 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.

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