Looking for New Mexico debt relief? We can help you find it. Credit card debt and mounting bills are a burden no matter where you live right now. If you’re not careful—and even if you are—it can easily spiral into owing more money than you can even imagine.
It’s virtually impossible to keep up with payments. You can’t go on without help. But not just any help. Every state’s debt laws are different, and affect you in different ways. So if you’re living in New Mexico, then you need New Mexico debt help. Here are some things you need to know about debt in New Mexico.
When it comes to credit card debt, New Mexico ranks 22nd in the nation. The average debtor has about $4,920 in debt, which is 1% lower than the national average of $4,965. Likewise, the rate of delinquency is also slightly lower, with 0.55% of people who are more than 90 days past due. That’s 4% less than the national average of 0.57%.
Unfortunately, the average credit score in New Mexico is a bit below average, at 683, compared with 696 for the nation. And at 19.8%, the number of people living in poverty is significantly higher than the national average of 12.7%.
The statute of limitations for debt in New Mexico is six years for contracts. All other types of debt have a statute of four years. However, while most other states start the statute clock at the time the last payment was made, New Mexico starts it a little later, at the moment the debt becomes delinquent and the creditor gains the right to sue.
If you want to get your debt under control, one of the best things you can do is consolidate it. New Mexico residents can take multiple credit card payments and reduce them to a single, low monthly payment, that is easier to manage. If your debt is past that point, there are other options as well like New Mexico a debt settlement program. You can renegotiate your debt to pay a lower amount. You can even file for bankruptcy. But whatever you do, you really shouldn’t do it without someone in your corner.
Has your financial situation been negatively affected by the covid-19 pandemic? If so, you may qualify for a debt relief program to help reduce your debt and free you from mounting debt. Talk to an Americor debt professional to see what your options are.
At Americor, we understand debt. We know New Mexico residents need help now more than ever due to the covid pandemic. We can give you more than just a cookie-cutter solution. We can provide you with the personalized assistance you need to get out of debt and find your debt freedom.