This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Payment Plan Math in Maine

Under Maine law, the maximum interest rate for a payment plan on a civil judgment is set by statute. The applicable rate is 18% per year, as provided in 10 M.R.S. § 1103. This statute governs the interest that accrues on unpaid judgment amounts when a payment plan is established. The law sets out the rate and the method for calculating interest on the outstanding balance over time. A worked example below demonstrates how this 18% annual rate applies to a typical judgment balance under a payment schedule. Because each case involves different principal amounts and payment terms, the exact total will vary. Readers can use the DocketMath calculator to estimate interest for their specific judgment and payment plan.

Governing authority

In Maine, the payment plan math rule is set by 10 M.R.S. § 1103. The verified packet cites 10 M.R.S. § 1103 (https://legislature.maine.gov/statutes/10/title10sec1103.html).

Maine payment plan math: the verified value is 18% under 10 M.R.S. § 1103. The verified packet cites 10 M.R.S. § 1103 (https://legislature.maine.gov/statutes/10/title10sec1103.html).

Estimate your own result: every situation has exceptions that can change the outcome. Use the payment plan math calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.