New Mexico Proposes Regulations Regarding Collection Of Time-Barred Debt

26 Dec New Mexico Proposes Regulations Regarding Collection Of Time-Barred Debt

The New Mexico Attorney General has formally announced its proposed regulations that would require debt collectors who attempt to collect any debt that they know or have reason to know is time-barred to conspicuously disclose to the debtor that 1) the debt is time-barred; 2) the debt cannot be enforced through legal action; and 3) partial payment or acknowledgment may revive the the statute of limitations.

The full text of the proposed regulations is available at: NM AG Time Barred Debt Collection Proposed Regulations

Written comments concerning the proposed regulations may be submitted by mail before February 13, 2009 to:

Office of the Attorney General
Consumer Protection Division
Attention: Rebecca Branch
P.O. Drawer 1508
Santa Fe, NM 87504-1508

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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