Below you will find important information on New Mexico state debt recovery laws including: New Mexico Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.
STATE: NEW MEXICO
- Judgment: 8.75% (in the absence of a written contract)
STATUTE OF LIMITATIONS (IN YEARS)
- Open Account: 4
- Written Contract: 6
- Auto Deficiency: 4
- Domestic Judgment: 14
- Foreign Judgment: 14
BAD CHECK LAWS (CIVIL PENALTY)
Amount due, triple damages up to $500 per check. Complex requirements need to be met.
GENERAL GARNISHMENT EXEMPTIONS
Greater of 75% or amount each week = to 40 x fed. min. hourly wage.