Maine Debt Relief Company

What is Maine Debt Relief?

Maine Debt relief is the reduction of debt through a debt settlement program or debt consolidation. Pacific Debt specializes in debt settlement and we take an active approach to reduce your debt for substantially less than you currently owe. Most types of debt qualify for our debt relief program, including credit card debt, or any other type of unsecured debt.

How Does Maine Debt Relief Work?

The first step of the ME debt relief process is to have a FREE phone call with one of our debt specialists who can discuss with you all your options so you fully understand your position and what steps need to be taken with your creditors in order to reduce your debt. The debt relief program works by having you deposit an agreed amount in your very own escrow bank account. Once enough funds have been built up, our debt negotiators will get started negotiating a substantial debt settlement amount with your creditors. The program usually takes anywhere from 2-4 years to complete because everyone's financial situation is different.

Better Business Bureau of Maine

Pacific Debt Is an A+ rated Business with the BBB  for debt negotiation services to individuals and families struggling with unsecured debt. We have been accredited since 2010 and in business since 2002.

We have helped countless people struggling to pay their credit card balances. Luckily, Pacific Debt is available to help you get the information needed in order to figure out the right course of action. Our debt specialists can help you with a FREE consultation.

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Maine Residents

Maine is the northernmost of the contiguous United States. Maine may have been the site of the first European explorers as there is evidence that Norwegians made contact with the original inhabitants in 1200. Maine offers a solid agricultural economy, producing poultry, dairy, blueberries and apples. Because of the extensive forests, Maine’s industrial output is primarily  paper and lumber. Maine is also the northernmost entrance/exit of the Appalachian Trail Maine is ranked #41 for population and #39 for population density.

As of 2021, over 1.3 million people called Maine home. Portland is the largest city in Maine.

Income

The median state income is $57,918. As of 2021, the minimum wage is $12.15 per hour. Unfortunately, 16.9% of Mainer children under 18 live in poverty. For residents overall, 12.9% of all people in Maine live under the poverty level.

• Median state income: $57,918
• Minimum wage: $12.15/hour
• Children in poverty: 16.9%
• People in poverty: 12.9%

Is Maine a Community Property State?

Maine is not a community property state. Therefore your assets are not seen as equally owned by you and your spouse. There are 10 community property states in which the state sees your assets as community property are Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, New Mexico, and Wisconsin.

Homeowners

More than half (77.1%) of Mainers hold a mortgage. The median home price in Maine is $253,914 (2020). Of course, that median price depends on the location with some areas being much higher.

• Homeowner rate: 77.1%
• Median home price: $253,914

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Employment

Maine has recovered from the depression and the current unemployment rate is 4.8%. However, the underemployment rate is 6.9%. Underemployment is the percentage of civilian workers who are unemployed, employed part-time or are not seeking employment.

If this is you, we can help. Pacific Debt offers debt relief solutions tailored to your unique situation and budget. Our certified counselors help you work up a budget and explain your options.

• Unemployment: 4.8% (2021)
• Underemployment: 6.9% (2021)

Maine Debt Statistics

Mainers carry a lot of debt. The average credit card debt is $5,442 (2021). The average student loan debt is $36,339. When you add all that debt on top of the cost of homes (rental or owned), versus the median income, it is very easy for Mainers to get into debt.

• Avg. credit card debt: $5,442 (2021)
• Avg. mortgage debt: $140,904 (2020)
• Avg. student loan debt: $36,339 (2021)

Statute of Limitations Debt in Maine

The Maine debt statute of limitations lays out maximum time periods that debt collectors can take action against a delinquent debt. These statutes of limitations begin on the date that your debt goes delinquent.

For debts taken out in Maine, the following are the statutes of limitations for different types of debt.

• Oral agreements: 6 years
• Written contracts: 20 years
• Promissory notes: 20 years
• Credit cards and other revolving loans: 6 years

Debt Consolidation Maine

If you have more debt than you can pay off, Pacific Debt can help you settle your debt and learn to live debt-free. Since 2002, we’ve settled over $200 million in debt for thousands of clients. We are a nationally top-ranked debt relief company. We can help people in the state of Maine with debt relief. Contact us today so we can help you too!

We will help you work through our proven and comprehensive debt relief program. Your certified debt relief counselor will review all your options. If debt settlement is right for you, we move forward with our debt consolidation program and work to save you money. Pacific Debt can help with most unsecured debt like credit cards, personal loans, medical bills, and repossessions.

It is not an easy process and it won’t happen overnight, but you can do it. Pacific Debt will be there every step of the way to help. Call us and inquire about our ME debt relief program and how it can help you.

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Debt Collection Laws in Maine

Mainers have laws to protect them against unscrupulous debt collectors. The federal Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive or harassing bill collection practices. In addition, the Maine Fair Debt Collection Practices Act adds protections against more types of collectors and actions. If you are a victim of any of these actions, you may take legal action against them.

Overall, debt collectors can NOT:

• Charges more than 10% interest
• Garnish more than 25% of wages
• U se/threaten physical force or criminal tactics to harm you, your property, or your reputation
• Accusing you of committing a crime for not paying the debt
• Make/threaten to make defamatory statements to someone else
• Threaten arrest, to seize assets, or garnish wages unless actually planning to take such action
• Use obscene or profane language
• Cause you to spend money you wouldn’t otherwise have spent (ie long-distance telephone calls)
• Call you repeatedly or let your phone ring repeatedly
• Call frequently
• Contact your employer, except to verify employment or health insurance status, garnish wages or locate you
• Reveal information about debt to anyone except your spouse or your parents if a minor.
• Publicly publish your name for failing to pay
• Send a postcard or letter with revealing information on the envelope
• Claim to be someone other than a debt collector, including a governmental official
• Use stationery that appears to be from a law firm
• Charge you collection or attorney’s fees unless legally allowable
• Threaten to report you to a credit reporting agency if they have no intention of doing so
• Send a letter claiming to come from a claim, credit, audit, or legal department unless it actually is

Debt collectors must:

• Disclose caller identification
• May contact your family to locate you
• Must serve you with notice of a lawsuit if suing you

Bankruptcy Court Information

Bankruptcy is a legal action that can erase most of your debt as well as your credit history. It is not an action to take lightly. If you do, you must follow the following steps in Maine Bankruptcy law.

Persons filing for bankruptcy must:

• Complete credit counseling within six months before filing for bankruptcy.
• Complete a financial management instructional course after filing bankruptcy.
• Complete a Bankruptcy Act Means Test to determine if you are eligible for a Chapter 7 or 13 bankruptcy
• Itemize current income sources; major financial transactions; monthly living expenses; debts (secured and unsecured); and property (all assets and possessions, not just real estate).
• Collect last 2 years of tax returns, deeds to real estate you own, car titles, and loan documents
• File for bankruptcy
• Chapter 7 bankruptcy fee is $306
• Chapter 13 bankruptcy fee is $281
• Meet with court assigned bankruptcy trustee
• Attend a Meeting of Creditors
• Confirm plan if filing for Chapter 13 bankruptcy

DISCLAIMER: We are not lawyers and are not giving legal advice. Before filing bankruptcy, talk to a lawyer in your state.

The information included on this site is for educational purposes only. Your state may not qualify for the Pacific Debt, Inc debt relief program. If it does not qualify, we can refer you to a Trusted Partner or assist in connecting you with a provider who offers servicing in your state of residence.