http://resources.lawinfo.com/en/Legal-FAQs/Collections-Creditors-Rights/Maine/index.html LawInfo - Legal Resource Center offers free Maine Collections-Creditors Rights legal forms and free Maine Collections-Creditors Rights legal documents that is designed to help consumers and businesses resolve their legal issues http://resources.lawinfo.com/en/Legal-FAQs/Collections-Creditors-Rights/Maine/can-unsecured-debts-be-settled-.html An unsecured debt is a debt where there is no collateral. Unsecured debts include medical bills, credit cards, department store cards, personal loans, collection accounts, student loans, amounts remaining after foreclosure or repossession, and bounced checks. There are a few creditors who will never compromise, but sometimes creditors will settle unsecured debts for less than the total amount due.  The typical reason most creditors will settle an unsecured debt is because they would have to incur sometimes substantial costs involved in suing the debtor for a judgment for repayment and still be left with a debtor who simply can not pay the judgment.  When there is no collateral to repossess to satisfy the debt, the creditor is left with nothing.  Many creditors will calculate how much it would cost to collect and estimate the amount they are likely to actually collect, and then make a decision about whether or not it is better to accept a reduced amount upfront.  Maine Collections-Creditors Rights FAQs Tue, 29 May 2007 21:19:00 GMT http://resources.lawinfo.com/en/Legal-FAQs/Chex-Systems/Maine/index.html Free Chex Systems FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Collections/Maine/index.html Free Collections FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Creditor-Remedies-in-Bankruptcy/Maine/index.html Free Creditor Remedies in Bankruptcy FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Debt-Collections/Maine/index.html Free Debt Collections FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Enforcement-of-Judgments/Maine/index.html Free Enforcement of Judgments FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Fair-Credit-Reporting-Act/Maine/index.html Free Fair Credit Reporting Act FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Fair-Debt-Collection-Practices-Act/Maine/index.html Free Fair Debt Collection Practices Act FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Identity-Theft-Fraud/Maine/index.html Free Identity Theft FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Judicial-Remedies/Maine/index.html Free Judicial Remedies FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Mortgage-Foreclosure/Maine/index.html Free Mortgage Foreclosure FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Non-Judicial-Remedies/Maine/index.html Free Non-Judicial Remedies FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Secured-Transactions/Maine/index.html Free Secured Transactions FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT http://resources.lawinfo.com/en/Legal-FAQs/Types-of-Creditors/Maine/index.html Free Types of Creditors FAQs Collections-Creditors Rights Sub-categories Fri, 27 Nov 2009 17:14:45 GMT