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Maine Commercial Collection Agency



AAB is a Maine commercial collection agency that specializes in debt collection. With over 40 years of consumer and commercial debt collection experience AAB has a solid track record recovering debt on contingency and a good reason to consider AAB when you need a Maine commercial collection agency.

Our collection agency covers all of Maine or ME and handles commercial Maine debtors in Auburn, Augusta, Bangor, Bath, Biddeford, Brunswick, Lewiston, Portland, Sanford, Saco, Waterville, Westbrook and other cities in Maine.

A commercial collection agency must be licensed in Maine to collect or solicit business. In the case of excessive interest rates out of state creditors can expect the interest rate to be adjusted to conform to the laws in Maine.

Below are summary points on Maine on consumer and commercial regulations and Laws that affect a Maine collection agency. These points should be considered when contemplating listing commercial debt on contingency for collection by a Maine collection agency.

Maine Collection Laws



NOTE: The Maine commercial collection guidelines below are summary in nature and subject to change. While our agency makes every effort to insure accuracy, the information below should not be considered legal advice or to be one hundred percent accurate. No warranty is expressed or implied and AAB assumes no liability for its use.

Maine Collection Interest Rates



Maine Legal Rate: 6% (Without Agreement)
Contract Rate (Consumer): Greater of 18 %on all unpaid balances; or
the total of 30 %on unpaid balances of $1,000 or less; 21 % on unpaid balances over $1,000 but not more than $2,800; and 15 % on balances over $2,800. Consumer Loans also tiered in Maine.
Contract Rate (Commercial): No special rate. Per Agreement or Contract. Note: A Guarantor or co-maker waives excessive consumer interest rates as a defense.
Judgment: Contract rate or US T-Bill rate plus 6%
Usury % Cap: No specific Usury provisions

A Maine commercial collection agency can only charge interest at the rates above.

Maine Statute of Limitations



Maine Contracts (Oral): 6 Years
Contracts under Seal: 20 Years
Judgment: 20 Years

Bad or NSF Check collection charges in Maine


Connecticut requires a 10 Day written demand notice. Creditor can charge for the check face value, processing charges and 12% per annum from the date of dishonor. If the debtor does not pay before the hearing then the Creditor can charge attorney fees up to a ceiling of $150.

It should also be noted that if a debtor issues a second check that is returned to the same creditor, there are additional damages if the debtor does not pay within 30 days. Twice the check face amount or $750 (whichever is less) in the case of no account. Twice the check face amount or $400 (whichever is less) if the check was returned because of insufficient funds.

Maine Collection Agency Laws


Maine State Licensing: Yes
Agency Bond: YES - $20,000 – Renewal $15 to $50,000
Trust Account: Required
State Fees: $600 + $300 (per Branch office)

Information above on commercial collections and the Maine Collection Agency Laws is provided to help potential Clients looking for a commercial collection agency in Maine. We encourage potential Clients to request a free quote from our Maine Commercial Collection Agency.

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Maine Cities

Auburn, ME
Augusta, ME
Bangor, ME
Bath, ME
Biddeford, ME
Brunswick, ME
Lewiston, ME
Portland, ME
Sanford, ME
Saco, ME
Waterville, ME
Westbrook, ME