Category Archives: Collections

WHEN IS A MONEY JUDGMENT TOO OLD TO COLLECT?

Under Maine law, a judgment is presumed satisfied twenty years after the judgment is entered. 14 M.R.S. § 864. However, the presumption can be overcome by evidence that the judgment has not been paid in full. See Brewer v. Thomes, … Continue reading

Attorney Dubord Speaker at Collection Law Seminar

Attorney David R. Dubord recently spoke at a seminar attended by attorneys, paralegals, lenders and other credit grantors entitled “The Nuts and Bolts of Collection Law.” Attorney Dubord spoke on the topic of collecting a judgment, addressing issues relating to … Continue reading

SUBROGATION LIMITATION REPEALED

In 2009, the Maine Legislature amended a provision of the Maine Insurance Code (24-A M.R.S. § 1 et seq.) regarding an insurer’s subrogation rights concerning medical payments made by the insurer pursuant to the medical payments coverage provisions of a … Continue reading

WHEN IS A DEBT TOO OLD TO COLLECT?

Banks, credit unions, debt buyers, finance companies, automobile dealers who finance purchases, and other lenders seeking to collect on delinquent accounts are well advised to aggressively pursue non-paying accounts soon after the accounts become delinquent. Creditor delay generally impairs the … Continue reading

Options for recovery of personal property in Maine

Secured creditors are often faced with uncooperative borrowers following a default, resulting in the need to resort to legal action to recover collateral.  In the State of Maine, there are two basic remedies available to creditors to pursue recovery of … Continue reading

Changes to Civil Orders of Arrest

On May 31, 2011, Governor LePage signed into law An Act To Enhance Enforcement of Civil Orders of Arrest. The Act takes effect on September 28, 2011. This Act gives a judgment creditor additional tools it can use in its … Continue reading

DEBT BUYERS BEWARE – PROPER DOCUMENTATION NEEDED TO PROVE TERMS AND CONDITIONS AND OWNERSHIP OF A CLAIM

Debt buyers must be able to provide documentation which proves the terms and conditions of the underlying debt and the proper assignment of the debt to the debt buyer in order to prevail in a contested debt collection case. In … Continue reading

SEPTEMBER DECLINE IN CREDIT CARD CHARGE-OFF RATES

September saw significant improvement in credit card charge-off rates at major U.S. banks as well as improvement in delinquencies.  For more detailed information, please see: http://www.insidearm.com/go/arm-news/credit-card-charge-offs-decline-at-major-issuers-in-september The creditors rights attorneys at Gosselin & Dubord, P.A. are experienced litigators who are … Continue reading

CALCULATING INTEREST IN CIVIL ACTIONS

Creditors are keenly aware of the time value of money. Delay in the collecting of a debt without compensation in the nature of interest results in a continually decreasing rate of return for the person or entity to whom the … Continue reading

WHEN CAN A BANK OR CREDIT UNION EXERCISE ITS SETOFF RIGHTS IN A CUSTOMER’S DEPOSIT ACCOUNTS?

Banks and credit unions accept deposits from and lend money to their customers. When customers fail to repay loans owed to the financial institution or become indebted to the financial institution for overdraft or other charges on their deposit accounts, … Continue reading