is a world-leading consumer product review site. We provide detailed reviews and ratings for thousands of products and services.


Go To Reviews >

Debt Consolidation in New Mexico

Across many dimensions of consumer debt, residents of New Mexico fare well in comparison with the rest of the United States. For example, the state is ranked 50th overall with respect to the amount of debt that college graduates have upon completing their studies, with an average student loan balance of $18,656. Only 54% of college graduates have student debt, placing New Mexico in 40th place.

New Mexico has one of the lowest bankruptcy rates in the United States, with approximately 3,318 individuals filing for bankruptcy in an average year, or 1.70 filings for every 1000 state residents. Debt consolidation is one technique used by residents to avoid the need to pursue bankruptcy as a means of managing financial difficulties.

Foreclosure rates in New Mexico are relatively low as well. Overall, one out of every 1932 homes in the state are in foreclosure; in harder-hit counties such as Bernalillo and Valencia, that rate averages slightly more than one in every 970 homes.

Looking at credit card debt, however, New Mexico ranks 10th. An average credit holder in the state carries a balance of $7,692.55. As consumers struggle to pay off those credit card balances, they may consider debt consolidation to prevent larger problems in the future.

Because of its location on the border of the United States and Mexico, New Mexico has greater challenges in the context of medical debt and uninsured immigrants. More than 50,000 residents of the state do not have access to affordable health care because their immigration status prevents them from acquiring affordable medical insurance plans on the exchanges.

New Mexico law does require debt collection agencies to both be licensed by the state and to have a surety bond in the amount of $5,000.


Go To Reviews >

Debt Consolidation In The News

Where the 2020 candidates stand on student debt and college affordability

said in a CNN town hall that she doesn't support free college.) Borrowers can also likely expect some dramatic proposals for student debt relief, Huelsman said. In the past, presidential candidates ha...

Published:  Wed, 20 Feb 2019 09:53:00 GMT

Personal loans surge to a record $138 billion in US as fintechs lead new lending charge

The consumer loans fell into three main categories: Debt consolidation, home improvement financing, and retail thanks to a surge in e-commerce and online shopping, Laky said. An unsecured personal loa...

Published:  Thu, 21 Feb 2019 04:56:00 GMT

Student debt relief is union work

AFT leaders in Massachusetts know that supporting our members goes beyond what happens in the classroom, or the schoolhouse, or even the Statehouse. That's why, when the AFT started offering student d...

Published:  Fri, 15 Feb 2019 13:38:00 GMT

New Bill Could Bring Student Loan Relief

WASHINGTON, D.C - Lawmakers are introducing a bill to bring some relief to people with student loans. U.S. student loan debt totals $1.5 trillion nationally -- second only to outstanding home mortgage ...

Published:  Tue, 19 Feb 2019 05:41:00 GMT

MIDEAST DEBT-Bahrain's Mumtalakat squeezes yields as government debt outperforms

Mumtalakat's paper was priced only marginally below the Bahraini sovereign debt curve, but the newly issued sukuk ... support package will be tied to progress on Bahrain's fiscal consolidation plans.

Published:  Thu, 21 Feb 2019 03:06:00 GMT

- View Full Site -