Bad Economy Means Good Business for Maine Debt Collectors 

The economy may be down in Maine, but business is up for the state’s debt collectors. The number of debt collectors is growing and debt-collection agencies are beefing up their staffs as the amount of bad debt rises. William Lund, superintendent of Maine’s Bureau of Consumer Credit Protection, said the rise in bad debt — and in the number of debt collectors — is a reflection of the poor economy. Lund said there are 809 collectors in Maine who are licensed to recover consumer debt, with credit card and medical debt leading the way. In 2003, there were only 477 licensed debt collectors in the state.