State Debt Laws
New Mexico Debt Collection Laws
Garnishment limits, exemptions, and consumer protections specific to New Mexico
New Mexico (NM) - At a Glance
| State Consumer Protection Law | New Mexico Unfair Practices Act |
| Source | NMSA ยง 57-12-1 et seq. |
| Covers Original Creditors? | No - third-party collectors only |
| Max Wage Garnishment | 25% of disposable earnings (federal minimum; may be lower) |
| Bank Levy Exemption | $1,000 in bank |
| Homestead Exemption | $60,000 |
Key Protections in New Mexico
- FDCPA applies to third-party collectors
- Unfair Practices Act covers deceptive collection
- Homestead exemption: $60,000
Wage Garnishment in New Mexico
After a court judgment, creditors in New Mexico can garnish up to 25% of your disposable earnings (earnings after legally required deductions). This is the federal cap - New Mexico follows federal law on this limit.
Exempt from garnishment: Federal benefits (Social Security, SSI, VA benefits) cannot be garnished by private creditors regardless of state law.
File a Complaint in New Mexico
If a debt collector violates the FDCPA or New Mexico Unfair Practices Act:
- File with the New Mexico Attorney General
- File with the CFPB
- Consult a consumer attorney (FDCPA violations = attorney fees paid by collector)
New Mexico Debt Resources
SoL
New Mexico Statute of Limitations
Credit card, medical, auto, and personal loan SoL in New Mexico.
View SoL →Free Tool
SoL Date Calculator
Calculate the exact SoL expiration date for your debt.
Check SoL →FDCPA
Federal Collector Rules
What debt collectors can and can't do under federal law.
Read Guide →