Submitted by admin on Tue, 05/27/2014 - 03:22
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
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
Last Updated on: Tue, 23 Aug 2016
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