New Mexico 36% Small Loan Collection Check

Live. Collecting a New Mexico loan of $10,000 or less? NMSA 58-15: unlicensed, over 36% all-in APR, payday or under 4 installments = void; nothing owed.

Collecting a New Mexico installment, online, title or payday loan of $10,000 or less made since Jan. 1, 2023? Checks each loan and contact against the Small Loan Act as amended by HB 132: void, with no principal, interest or charges collectable (58-15-3(E)), if the lender is unlicensed, the all-in APR (fees, add-ons and credit insurance counted) is above 36%, or it is single-payment or under four installments (58-15-17). Flags collecting a void loan (FDCPA 1692e(2)(A), 1692f(1)) and arrest threats; banks and credit unions out of scope. Not legal advice.

Price: $0.001 per call after 1,000 free per month.

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