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