Re: FIRST RESOLUTION

Posted by Why Chat on March 05, 2002 at 17:13:26:

In Reply to: Re: FIRST RESOLUTION posted by Leester on March 05, 2002 at 15:57:10:

OK- New Mexico has a 4 year SOL-HOWEVER-
A "foreign"(out of State) CA cannot do anything legally to collect from you EXCEPT by mail-phone-fax.They would have to sell the account to a New Mexico CA in order to be able to file suit,
Send a validation letter,RRR,include a dispute and cease and desist.They cannot sue you unless they have a licensed resident office in New Mexico.
STATE: NEW MEXICO †
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 4
COLLECTION AGENCY BOND & LICENSE
Bond: $5,000 minimum - based on volume
License: Yes
Fee:
$500 - original collection agency or branch
$300 - renewal collection agency or branch
$100 - examination fee for manager's license
$50 - manager renewal
Exemption for out-of-state collectors: Out-of-state agency is exempt if [1] collecting by interstate means (phone, fax, mail); and [2] debt was incurred outside the state of New Mexico.

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