LawInfo

New Mexico Collections-Creditors Rights FAQs

• Is there a statute of limitations on a debt?
  Yes. STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 4 Written Contract: 6 Domestic Judgment: 14 Foreign Judgment: 14 more
• What is the interest rate for a judgment?
  INTEREST RATE Judgment: 8.75% (in the absence of a written contract) more
• Are creditors controlled by divorce court?
  No. The reason creditors are not controlled by divorce court orders is the fact that creditors are not parties to the divorce case. The creditor will have had no voice … more
• Who pays the debt in a divorce?
  Community creditors generally look to both spouses to pay community debts, but the creditor is within his rights to ask only one spouse to pay the whole community … more
• What if the debtor ignores the letters?
  You have several options. You can send additional letter series up to three times to the same debtor for the same debt. For a more aggressive approach, the debt can be … more

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