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New Mexico Credit Repair Laws
Consumers in New Mexico wanting to use a credit repair firm to repair their bad credit need to know that New Mexico credit repair laws (N.M. Stat. Ann. §§ 56-2-1 to 56-2-4) give some protection above federal laws.
The following bad credit repair laws apply to the state of New Mexico
Credit repair services may only be performed by nonprofit corporations organized as a community effort to assist debtors may provide debt adjustment services. Exceptions: attorney; regular, full-time employee of a debtor who does it as part of job; person authorized by court or state or federal law; creditor who provides debt adjustment without cost; and lender who, at the debtor’s request, adjusts debts at no additional cost as part of disbursing the loan funds.
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