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| Credit Card Debt Consolidation Help in Maine | ||||||||||||||||
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| Maine Debt Relief | ||||||||||||||||
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Debt settlement, also known as debt negotiation and debt reduction, is the process by which we negotiate and settle a debt for a reduced amount on behalf of a client. When successful, it is possible that Franklin Debt Relief can settle their debts for less than what is owed, all with the convenience of one low program payment. The savings from our debt settlement program can potentially be tremendous versus making your minimum payments, and it is in some cases the cheapest and fastest debt relief, debt consolidation or debt help option available to Maine consumers. If you're overwhelmed with credit cards, medical bills, balances from a repossession, or accounts in collections, call for a free consultation: (877) 274-1260. |
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| Pertinent Maine Debt Relief and Debt Help Laws | ||||||||||||||||
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Debt Collection Maine is exempt from the Fair Debt Collections Practices Act (FDCPA), although most of the state laws are the same anyway. -Original creditor cannot: -threaten debtor with violence or force. - threaten criminal prosecution. -disseminate information regarding the debt to any third party other than spouse or person who has a business need for the information, whether or not for credit-worthiness. -fail to state or threaten to fail to state to third parties that debtor disputes the debt (if this is the case). - communicate or threaten to communicate with debtor's employer more than twice regarding the debt -attempt to collect debt that is legally uncollectible -suggest legal or judicial process, that it is a government agency, or that it is an attorney when it is not. Maine Debt Law -Debt collector cannot: -use notary public, constable, sheriff, or any other person authorized to serve legal papers to collect a debt Maine Debt Law -Violations may lead to a penalty not to exceed $5,000. The statute of limitations on this is 2 years. Maine Debt Law Maximum Interest Rate a Collection Agency Can Charge in Maine: Depends on size of the loan. $5 on loans below $75, $15 on loans between $75 and $250, $25 on loans greater than $250 Maine Wage Protection: 75% of disposable weekly earnings (after tax income) or 30 times federal hourly minimum wage, whichever is more Statute of Limitations Oral Agreements: 6 years Written Contracts: 6 years Promissory Notes: 6 years (20 years if signed before a witness) Open Accounts (credit cards): 6 years Maine Bankruptcy Courts USBC, District of Maine 537 Congress Street, 2nd Floor Portland, ME 04101 USBC, District of Maine 202 Harlow Street, 3rd Floor Bangor, ME 04401 Bankruptcy Exemptions Bankruptcy exemptions are protected assets that the bankruptcy code mandates that a debtor is entitled to keep in order to adequately get a "fresh start" after filing. Bankruptcy exemptions vary from state to state, and the following list is the property that is protected in the bankruptcy code of Maine. For more information, follow this link: bankruptcy exemptions. Real Estate, Auto, Personal Property -Real or personal property used as residence to $35,000; if filer has minor dependents in residence to $70,000; if debtor is over the age of 60 or physically/mentally disabled to $70,000; sale proceeds exempt for 6 months -Motor vehicle to $5000 -Unused portion of homestead, animals, crops, musical instruments, books, clothing, furnishings, household goods, appliances, tools of trade, and personal injury recoveries to $6000 -Animals, crops, musical instruments, books, clothing, furnishings, household goods, appliances to $200 per item -Balances due on repossessed goods; total amount financed cannot exceed $2000 -Burial plot in lieu of homestead exemption -Cooking stove, furnaces and stove for heat -Food to last 6 months -Fuel not to exceed 10 cods of wood, 5 tons of coal, or 1,000 gallons of oil for heat -Health aids -Jewelry to $750; no limit for one wedding and one engagement ring -Lost earning payments needed for support -Military clothes, arms, and equipment -Personal injury recoveries to $12,500 -Seeds, fertilizers, and feed to raise and harvest food for 1 season -Wrongful death recoveries needed for support Public Benefits -Maintenance under the Rehabilitation Act -Crime victims' compensation -Public assistance -Social Security -Unemployment compensation -Veterans' benefits -Workers' compensation Pensions -ERISA-qualified benefits -Judges -Legislators -State employees Tools of Trade -Books, materials, and stock to $5000 -Commercial fishing boat, 5-ton limit -One of each farm implement and its maintenance equipment needed to harvest and raise crops) Other -Alimony and child support needed for support -Property of business partnership |
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