New Mexico has a list of bankruptcy exemptions that help you protect property. Explore the list.

New Mexico Bankruptcy Laws

Homestead

The principle place of residence of the up to the extent of $ 30,000. Joint owners may double it. Exemption in lieu of homestead is exempted up to the extent of $ 2000.

Wages

The greater among 75% or 40 times the federal minimum hourly wage per week.

Professional tools

Equipment, inventory, farm products and professional books used in business of debtor or dependent exempted up to the extent of $ 1,500.

Household goods

Household goods and furniture, wearing apparels, books are exempted up to the extent of 100 %.

Personal property

Personal property other than cash exempted up to $ 500.

Jewelry

Personal jewelry exempted up to the extent of $ 2,500.

Automobile

Motor vehicle up to the extent of $ 4,000.

Personal property

Personal property of any kind including cash is exempted up to the extent of $ 500.

Total or Absolute Exemptions for

  • Occupational disease disability benefits.
  • Unmatured life insurance contracts.
  • Membership holdings in cooperative associations.
  • Materials purchased for digging or operating oil and gas.
  • State police pension benefits.
  • Beneficiaries' interest in spendthrift's trust.
  • Public employee's retirement funds and benefits.
  • Social services benefits.
  • Property covered by assignment for benefit of creditors.
  • Fraternity benefits society benefits.
  • Crime victim's awards.
  • Public assistance payments.
  • Veteran's benefit.
  • Unemployment compensation benefits.
  • Specific partnership benefits.
  • City employee's retirement benefits.

Court's Address

10th Floor 500 Gold Avenue Southwest Albuquerque, NM 87103

Court's Phone Number

(505) 348-2500

Court's Email Address

web_ops@nmcourt.fed.us

Court's Hours

830 AM to 430 PM

Jurisdictional Counties

All Counties

Judges

Hon. James S. StarzynskiP.O. Box 546 Albuquerque, NM 87103(505) 348-2420Hon. Mark B. McFeeley (Chief Judge)P.O. Box 546 Albuquerque, NM 87103(505) 348-2525

Clerks

Norman H. Meyer, Jr. (Bankruptcy Clerk)P.O. Box 546 Albuquerque, NM 87103(505) 348-2500

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