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2009 New Mexico Statutes Chapter 58 - Financial Institutions and Regulations. Article 15 - Small Loan Business Section 58-15-36 - Payday loans; waiting period. 58-15-36. Payday loans; waiting period. A licensee shall not make a payday loan to a consumer who has entered into a payment plan pursuant to Section
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In the state of New Mexico payday lending is considered legal. But the regulations imposed over it (N.M. Stat. Ann. 58-15-32 to 38) are pretty strict. The state regulates and monitors the activity of all payday lending companies and bars any attempt of usury to the extent possible. According to the state law payday loans Nov 28, 2014 ALBUQUERQUE, N.M. — One of the worst things a person without the financial wherewithal to repay a loan can do is take out a so-called “payday” or “storefront” loan to buy Christmas gifts. But, with the holidays here, and because it is so easy to get such loans, that's exactly what many low-income people Legal Status of Payday Loans by State - PayDayLoanInfo.org payday advance georgia New Mexico Payday Loans - Cash Advance in NM
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