New Mexico Statute of Limitations on Debt
New Mexico applies a six-year statute of limitations to most consumer debt types, including both written and oral contracts. This uniform approach makes it straightforward to determine when a debt is time-barred.
| Debt Type | Statute of Limitations | |---|---| | Credit card debt (open account) | 6 years | | Medical debt | 6 years | | Auto loans (written contract) | 6 years | | Personal loans (written contract) | 6 years | | Oral contracts | 6 years | | Promissory notes | 6 years |
The clock runs from the date of default or last payment. After six years, a lawsuit on that debt is time-barred in New Mexico. Collectors can still contact you, but they cannot win in court. The debt can remain on your credit report for the federal seven-year window.
Note: Partial payment or written acknowledgment of a debt may restart the SOL in New Mexico. Get legal advice before taking any action on a potentially time-barred account.
New Mexico-Specific Consumer Protections
New Mexico Unfair Practices Act (NMUPA, NMSA § 57-12-1 et seq.) The NMUPA prohibits unfair or deceptive trade practices, including deceptive debt collection. Consumers have a private right of action and can recover actual damages. Willful violations may result in additional damages of up to $300 per violation plus attorney's fees.
New Mexico Collection Agency Regulatory Act (NMSA § 61-18A-1 et seq.) New Mexico requires debt collectors to be licensed by the New Mexico Regulation and Licensing Department. Operating without a license is a violation. Consumers can verify license status and file complaints through the Department.
New Mexico Consumer Protection Division The AG's Consumer Protection Division investigates consumer fraud complaints and has authority to take action against collectors who violate state law.
Wage Garnishment New Mexico limits wage garnishment to 25% of disposable earnings or the amount exceeding 40 times the federal minimum wage per week, whichever is less — slightly more protective than the strict federal floor in some cases.
How to File a Complaint in New Mexico
New Mexico Attorney General's Office — Consumer Protection Division
- Website: nmag.gov/consumers
- Phone: 1-844-255-9210
- Online complaint form available
New Mexico Regulation and Licensing Department
- Website: rld.nm.gov
- Phone: (505) 476-4500
- For complaints about licensed debt collection agencies
Federal Rights That Apply Regardless of State
- Fair Credit Reporting Act (FCRA): Dispute inaccurate items; bureaus have 30 days to investigate.
- Fair Debt Collection Practices Act (FDCPA): Prohibits collector harassment and deception.
- Fair Credit Billing Act (FCBA): Billing error rights on credit accounts.
File at consumerfinance.gov/complaint.
Your First Action Step
Check that any collector contacting you holds a New Mexico license — unlicensed collection is illegal in the state and gives you immediate grounds for a complaint. Pull your credit reports at annualcreditreport.com, review all collection accounts, and dispute any inaccurate information in writing by certified mail to each bureau.