New Mexico Commercial Collection Agency

New Mexico Collection Agency
New Mexico Collection Laws

Burt and Associates is a Collection Agency that specializes in Commercial Collections.

Full Debt Commercial Collection Agency Coverage for New Mexico NM

Albuquerque | Carlsbad | Farmington | Santa Fe | Taos | Las Cruces

Burt & Associates a national debt collection agency with full collection coverage for New Mexico. We invite you to review our services and feel free to contact us with any questions or comments you may have.

Contact Burt & Associates

By Phone:
Toll free: 1-877-740-7839

Or Fill out our Collection Agency Contact form

To Get A Free Quote, know our Collection Rates or call us toll free 1 (877) 740-7839 and get started today!

New Mexico Collection Laws

We hope that this information on New Mexico Collection Agencies assists you. The following is a summary of the New Mexico Collection Laws. The information here may not be 100% accurate and should not to be construed as legal advise.

• New Mexico Collection Laws Interest Rate
  Judgment: 8.75% (in the absence of a written contract)
  
  
• New Mexico Collection Laws Statute Of Limitations (Years)
  Open account: 4
  Written Contract: 6
  Domestic Judgment: 14
  Foreign Judgment: 14
  
  
• New Mexico Collection Laws Bad Check Laws (NSF) (Civil Penalty)
  Amount due, triple damages up to $500 per check - Complex requirements need to be met


• New Mexico Collection Laws General Garnishment Exemptions
  Greater of 75% or amount each wk. equal to 40 x Federal minimum hourly wage
  
  

New Mexico Debt Collection Tips

Is your company realizing substantial growth and running as effectively as possible? Are you challenged with how to successfully manage all of your back-office functions while generating enough sales to grow your business?

Starting today, you can consider Burt & Associates your back-office. As an SAS 70 Certified Commercial Collections Agency, Burt & Associates has the accounts receivables and financial solutions that will help you attain your business goals. By providing your business those critical back-office functions, we free up your time to attend to your business.

Burt & Associates is a recognized leader in commercial collections with the knowledge and expertise in management of accounts receivables and all other back-office services. In addition, we use the power of technology to generate results for your business efficiently and quickly.

Call me today to see which of our services will best fit your company and start improving your time-to-market, streamline your global processes and increase customer satisfaction, all while meeting corporate sales and revenue growth.

With warmest regards,

Jerry Curtis
President & CEO

Educational Tidbits For Today's Credit Executive
A Hidden Threat to Secured Creditors In Section 552 of the U.S. Bankruptcy Code

Secured creditors generally embrace Section 552 of the U.S. Bankruptcy Code, which provides for an automatic severance of after-acquired property interests and the proceeds exception thereto. However, many secured creditors may be unaware of a hidden danger lurking in 552(b), the so-called equity exception. Section 552(b)'s equity exception has the potential to work a partial avoidance of an oversecured creditor's property interests and thus diminish an otherwise healthy equity cushion for the creditor. This section is often ignored, but the provision can change the course of a bankruptcy reorganization in several ways. Further, despite the broad proceeds exception, 552(b) doesn't provide an all-encompassing security interest preservation. Rather, one has to consider whether the property arising postpetition truly constitutes proceeds of encumbered prepetition property as well as whether the equity exception applies.

The Credit Manager’s Q&A Corner

Question: Explain what creditors should and shouldn’t do in a workout.

Answer: If you reach a situation with a customer that is classified as a workout situation, it is imperative that you understand what you should and should not do.

You should insist upon adequate audit procedures and also make certain all employees are paid in a timely manner. Make certain that all withholding taxes are being paid and do not rely upon verbal understandings. Everything should be in writing. Creditors involved in workout situations should also review all loan documents for accuracy as well as review collateral dispositions and look at potential material concessions on loans. Creditors should also be aware of personal guarantees and make certain that all trade creditors are dealt with honestly and given accurate and consistent responses to all of their questions.

The don'ts? Never threaten anything when you do not intend on following through and never say anything that could be construed as misleading. Never mislead trade creditors or use any documents that are inconsistent. Also, never, never offer opinions concerning the future. And, make certain that if you are a creditor, that you attend all board meetings. Finally, make certain never to hide a preference which could potentially turn into a fraudulent transfer.