Maine Commercial Collection Agency

Maine Collection Agency
Maine Collection Laws

Burt and Associates is a Collection Agency that specializes in Commercial Collections.

Full Debt Commercial Collection Agency Coverage for Maine ME

Augusta | Bangor | Bar Harbor | Brunswick | Portland | Waterville

Burt & Associates a national debt collection agency with full collection coverage for Maine. We invite you to review our services and feel free to contact us with any questions or comments you may have.

Contact Burt & Associates

By Phone:
Toll free: 1-877-740-7839

Or Fill out our Collection Agency Contact form

To Get A Free Quote, know our Collection Rates or call us toll free 1 (877) 740-7839 and get started today!

Maine Collection Laws

We hope that this information on Maine Collection Agencies assists you. The following is a summary of the Maine Collection Laws. The information here may not be 100% accurate and should not to be construed as legal advise.

• 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 Debt Collection Tips

For every business serious about maintaining optimum cash flow, it is imperative that effective practices be implemented for securing monies owed and curtailing potential debtors. The past several years have seen some troublesome statistics materialize with respect to commercial debt collection. The statistics are particularly upsetting for small and medium-sized businesses trying to collect on their invoices.

The likelihood of successful debt recovery is increased dramatically when the process is outsourced to a reputable, third-party commercial collection agency. In fact, today, it is estimated that over 90% of big businesses and approximately 10% of small businesses rely on professional collection agencies, with middle-market businesses falling within that mean.

These companies are already benefiting from having a third-party commercial collection agency oversee their debt collections.

As an SAS 70 Certified company, Burt & Associates will effectively manage your accounts receivable portfolio. Contact me today and let's get you on the road to recovery!

With warmest regards,

Jerry Curtis
President & CEO

Educational Tidbits For Today's Credit Executive
Accounting Rule FIN #48

As a result of a new accounting rule that took affect at the beginning of the year, known as FIN 48, companies are now required to disclose the amount they have to put into tax reserves along with any other potentially challengeable amounts related to past tax benefits. Companies are now being instructed to list these amounts as "unrecognizable tax benefits" on their 10-Q reports. As the result of these reports, filed with the Security and Exchange Commission, many companies fear they could owe the IRS significant amounts in back taxes. Where previously companies were required to reveal much less information about transactions that could face risk of an audit, the new rule forces companies to more accurately reveal how they set aside such reserves. The issue is being raised at this time because many companies have just begun to file these disclosures over the past month.

The Credit Manager's Q&A Corner

Question: Discuss how the "Cleanup and Polluter Acceptability Act of 2007" affects a bankruptcy trustee.

Answer: The "Cleanup and Polluter Acceptability Act of 2007" affects a bankruptcy trustee by authorizing that trustee to avoid a debtor's transfer of an asset within ten years before the filing if the debtor had pre-existing liability under CERCLA (the "Superfund Law") and the debtor made the transfer with the intent to hinder, delay or defraud any entity with respect to such liability.