Complete Legal New Mexico Fair Debt Credit Forms For Free

NMSA 1978 §37-1-1 et seq. governs New Mexico's statute of limitations for the collection of open accounts, written contracts, and judgments entered by the Court. In New Mexico, the statute of limitations for open accounts is four years, while the statute of limitations for written contracts is six years.

If you don't receive a validation notice within 10 days of the first contact, request one from the debt collector the next time you're contacted. Ask for the debt collector's mailing address at this time as well, in case you decide to request a debt verification letter.

You can ask the creditor ? either the original creditor or a debt collector ? for what's called a ?goodwill deletion.? Write the collector a letter explaining your circumstances and why you would like the debt removed, such as if you're about to apply for a mortgage.

If you doubt that you owe a debt, or that the amount owed is not accurate, your best recourse is to send a debt dispute letter to the collection agency asking that the debt be validated. ?An effective debt-dispute letter must be clear and concise,? says Daniel Chan, Chief Technology Officer for Marketplace Fairness.

You'll need to dispute it with any credit reporting agency that's showing it on your credit report. The collections account information is correct, but you've made steps to remedy the situation. In this case, you can write a goodwill letter or pay for delete letter to ask for the account to be removed.

The 609 Dispute Letter theory is if you ask the credit bureaus for information they clearly cannot produce as part of your dispute letter, like the original signed copies of your credit applications or the cashed checks used for bill payment, then they would have to remove the disputed item because it's unverifiable.