New Mexico Bankruptcy Records

Are Bankruptcy Records Public Information in New Mexico?

Bankruptcy records are public information. Members of the public who need to access bankruptcy case information can do so by subscribing to the court's e-system called PACER (Public Access to Court Electronic Records). Interested parties will need to pay per page to access bankruptcy records using this tool. However, the bankruptcy court will not release some confidential information on a bankruptcy record, such as the social security number and bank account details.

Record seekers looking for an alternative to government sources may obtain bankruptcy records from third-party websites. These non-governmental websites often come with tools that help simplify the search for single or multiple records. However, record availability on third-party sites tends to vary because they’re independent of government sources. To obtain bankruptcy case information using third-party sites, record seekers may need to provide:

• A complete name of the debtor involved in the record
• A bankruptcy case number

How to Get New Mexico Bankruptcy Records

The federal judiciary provides public access to bankruptcy court documents via the Public Access to Court Electronic Records (PACER) tool or Voice Case Information System. Individuals who want to use PACER must create a subscriber account by completing an e-form. After completion, the court will issue a client code that will enable the user to login and search for records.

As an alternative, requesters can obtain hard copies by completing a Copy Request form. The bankruptcy court clerk's office can receive this request by email, fax, or mail. The copy fee is 50 cents per page. Certified copies cost $11 per document plus the per-page copy fee, while the amount for exemplified copies is $23 per document plus the per-page copy fee. Requesters may pay by credit card, cashier's check, or money order. Attorneys may also pay by law firm check. The clerk will contact the requester to arrange for payment before returning the requested copies. Below is the physical or mailing address of the clerk:

United States Bankruptcy Court
Pete V. Domenici United States Courthouse
333 Lomas Boulevard North West, Suite 360
Albuquerque, NM 87102
Phone: (505) 415-7999 or (866) 291-6805 (toll-free)
Fax: (505) 415-7980
E-mail: web_ops@nmb.uscourts.gov

Members of the public may also request audio recordings by completing the Audio Recording Copy Request form.

Bankruptcy in New Mexico

Bankruptcy in New Mexico refers to the judicial process that allows a debtor who is in default to either reschedule the debts or have the debts discharged by liquidating their non-exempt property. The purpose is to give honest debtors alternative options if they are unable to repay their debts. Debtors can alter their obligations to the creditors to make them easier to comply with through the process.

How Does Bankruptcy Work in New Mexico?

The bankruptcy process in New Mexico is governed by the United States Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. Federal courts have exclusive jurisdiction to determine the proceedings. Therefore, all bankruptcy cases in New Mexico should be determined by the United States Bankruptcy Courts in the District of New Mexico. A debtor that goes through the bankruptcy process can either use a repayment plan to reschedule the debts or liquidate their non-exempt assets to pay off the creditors.

The result of a bankruptcy is determined by the form of bankruptcy the debtor chooses to file. Bankruptcy in New Mexico may be filed under Chapter 7, Chapter 11, or Chapter 13. A Chapter 7 bankruptcy requires the liquidation of the debtor’s non-exempt property to pay off the creditors to the extent that can be covered. The debts that remain unpaid after liquidation shall be discharged. A Chapter 11 bankruptcy allows individuals and businesses to reschedule their debts through a repayment plan. A Chapter 13 bankruptcy similarly involves rescheduling debts through a repayment plan. However, it is only available to individuals and married couples.

Bankruptcy courts have a duty to ensure that the bankruptcy process is not abused by debtors to escape their legal obligations. The purpose of the bankruptcy law is to help honest debtors unable to comply with their debt obligations. Individuals and businesses that can comply with their debt obligations should not be allowed to file for bankruptcy successfully. The court would therefore consider the debtor’s eligibility status. The different kinds of bankruptcies have different eligibility requirements. However, the court would generally attempt to ensure that the debtor cannot repay their debts outside a bankruptcy. The court would consider the debtor’s income, expenses, debts, and assets.

Debtors interested in filing for bankruptcy in New Mexico can do so at:

333 Lomas Blvd. NW, Suite 360
Albuquerque, NM 87102
Office Hours: Monday - Friday, 8:30 am - 4:00 pm
Phone: (505) 415-7999

What are New Mexico Bankruptcy Records?

New Mexico bankruptcy records are documents that provide personal and financial information of debtors that file for bankruptcy in any of the bankruptcy courts in New Mexico. These records are public records pursuant to 11 U.S.C. § 107. Some of the information contained in the records include the debtor’s assets, liabilities, and income. As the records are public, any person can obtain New Mexico bankruptcy records. Requests for the records can be made in person, by phone, or online. In-person requests can be made at the court that determined the proceedings. Viewing the records is free. However, there are charges to make copies of the records. Phone requests can be made by placing a phone call to (866) 222-8029. Online requests can be made through the Public Access to Court Electronic Records website (PACER). The first 150 pages of records accessed online are free after registration. However, subsequent pages attract a fee of 10 cents per page.

Where are Bankruptcy Cases Tried in New Mexico?

The United States Bankruptcy Court, District of New Mexico, is responsible for hearing bankruptcy cases in New Mexico, according to 28 USC 1334. The court provides electronic and physical court filing and records services to members of the public. The bankruptcy court clerk has the duty of storing bankruptcy records. Therefore, Interested individuals who need to access bankruptcy court records may visit or mail the clerk's office, or use the Public Access to Court Electronic Records (PACER) platform. The clerk's office hours are Mondays to Fridays, 8:30 a.m. to 4:30 p.m., except for federal holidays. Asides from obtaining bankruptcy information from PACER, people can also access bankruptcy case records using third-party services. However, the available information on these websites is not official.

What Do New Mexico Bankruptcy Records Contain?

A New Mexico bankruptcy record will contain the following information:

• Names of the debtor and creditors
• The record's case number
• Dates of filing, hearing, and finalization
• The name of the judge that handled the case
• Bankruptcy chapter claimed
• Case status
• Petitions
• Name of all debtors and parties involved
• The debtor's attorney information
• Trustee information

A bankruptcy record may also contain:

• A report of assets
• The last four digits of the debtor's bank account number and social security number
• Other confidential information that may be restricted from the public

Where to Conduct a Free Bankruptcy Case Search in New Mexico

Members of the public can conduct a free bankruptcy case records search through

• Phone access to court records
• New Mexico court case lookup
• Public access to court electronic records (PACER)
• Bankruptcy case files search at national archives in kansas city
• Requests to bankruptcy court clerk's office

Phone access to court records

The Multi-court Voice Case Information System allows interested parties to use a touch-tone phone to retrieve some bankruptcy case information directly from a court's database.

Requests can be made by Calling (866) 222-8029 to make a request, and then either provide the name of the court or its specific extension. To identify the particular extension for the court, use the Court CM/ECF Lookup.

Persons can perform searches by using:

• Case No.
• Name of the participant
• Name of the participant

Requests to bankruptcy court clerk's office

The clerk's office for each bankruptcy court is in charge of keeping track of court documents. To get copies of court documents or to learn more details about a particular case, get in contact with the New Mexico clerk's office of the bankruptcy court where the case was filed. The following information can be used to get in contact with the bankruptcy court in New Mexico:

333 Lomas Blvd.
NW, Suite 360
Albuquerque, NM 87102
Office Hours: M-F 8:30 AM-4:00 PM
Phone: (505) 415-7999, Toll-Free (866) 291-6805
General Email: web_ops@nmb.uscourts.gov

Public access to court documents

Through the PACER (Public Access to Court Electronic Records) database, which is run by the US courts, residents in New Mexico can look up bankruptcy cases online. Anyone can use these steps to look up bankruptcy cases in New Mexico:

• visit the PACER website at https://www.pacer.gov.
• Select "Case Locator" from the menu.
• The "Court" field's drop-down menu should have "New Mexico" listed.
• From the drop-down list for the "Case Type" field, choose "Bankruptcy".
• If you have any additional search parameters, like the debtor's name or the case number, enter them here.
• Select "Search" from the menu.

A list of bankruptcy cases that match the required search criteria will appear as a result. Individuals can access free basic case information on PACER, including the case number, the names of the parties, and the filing date. The requestor must pay a fee in order to receive additional in-depth information, including court records and orders.

How Do I Find Out if My Bankruptcy Case is Closed in New Mexico?

Debtors can find out about their New Mexico bankruptcy case's status by accessing the Public Access to Court Electronic Records system. Search results will display the case status, indicating if it is still open or closed.

Another option is to forward a Request for Search of Bankruptcy Records form by mail to the bankruptcy court clerk's office. On this form, the requester must provide the name of the individual or business, or the last four digits of the social security number provided on the record. The search fee is $32 per document if the requester wants the findings documented in writing. An interested individual can also call the clerk's office on (505) 415-7999 at no cost to inquire about a case's closing status.

Can a Bankruptcy Be Expunged in New Mexico?

It is impossible to expunge a bankruptcy court record in New Mexico. However, a debtor can file a petition to restrict certain confidential information on bankruptcy court records from the public. The bankruptcy court will subject the motion to a review, and a judge may grant the request or reject the motion if there are not enough grounds to seal the information in question.

In New Mexico, a debtor cannot request to remove a bankruptcy from a credit report unless the record remains after the legal staying period. Usually, a bankruptcy remains on a credit report for seven to ten years. Also, one cannot remove records of certain debts such as those owed to the government and student loans.

Under the Fair Credit Reporting Act, a person may request to remove discrepancies from a bankruptcy report, should there be any errors noticed. The debtor must notify the credit reporting agency in writing and provide enough proof to back this claim. This petition will be subject to review and sent to the company that provided the information. The information provider will examine the query and order all nationwide credit reporting agencies to rectify the error. Upon completion, the credit reporting agency will provide a written report stating the outcome of the investigation. Note that the New Mexico bankruptcy court does not have jurisdiction over the erasure of bankruptcy records from credit reports.

What is the Downside of Filing for Bankruptcy in New Mexico?

A significant downside of filing for bankruptcy in New Mexico is that the debtor may lose some assets. This is usually the case with a Chapter 7 bankruptcy filing. The case trustee would sell the debtor’s assets to pay the creditors. While the assets are not lost in other forms of bankruptcy, the assets are to be used in trust for the creditors. Some other downsides include:

• The bankruptcy will appear on the debtor’s credit report for some time. Depending on the form of bankruptcy, it would stay on the debtor’s credit report for between seven and ten years. Any lender or financial institution would have access to the credit report.
• The debtor may lose access to credit cards.
• The debtor may be unable to obtain a loan or a mortgage.
• A bankruptcy filing may not necessarily discharge all debts. The bankruptcy fees, taxes, and some other payments due are not discharged.
• The debtor would be unable to file for bankruptcy for some years. The exact period of years depends on the kind of bankruptcy the debtor files for. However, it is usually between seven and ten years.
• A bankruptcy filing may lead to a fall in the debtor’s credit score.

However, the downsides should not discourage a debtor from considering filing for bankruptcy. The bankruptcy law is supposed to help debtors in situations where the debtors cannot pay the debts. Some advantages of filing for bankruptcy include:

• A debtor can use a bankruptcy filing to improve their credit score in the long term. If a debtor unable to comply with their debt obligations fails to file for bankruptcy, it would eventually lead to a crash in their credit score. However, with a bankruptcy filing, the debtor can address the debt and improve their credit score in the long term.
• A bankruptcy filing will help a debtor meet their debt obligations either through discharge after liquidation or by rescheduling the debt.
• A bankruptcy filing results in an automatic stay order. Therefore, creditors shall be unable to carry out collection actions.

What is Chapter 11 Bankruptcy in New Mexico?

A Chapter 11 bankruptcy in New Mexico is a type of bankruptcy that allows a debtor that cannot repay their debts to do so through a reorganization plan. The debtor does not have to liquidate their assets unlike in some other bankruptcy cases. However, the debtor becomes a “debtor-in-possession”. As a debtor-in-possession, the debtor acts as a trustee of the creditors and owes the duty to account, report, and respond to claims. The debtor files a reorganization plan with the court. It should include a repayment plan on how the creditors would be paid within three to five years. In some cases, the debtor may be able to secure a loan with the court’s permission after filing a Chapter 11 bankruptcy.

A Chapter 11 bankruptcy filing may be voluntary or involuntary. A voluntary bankruptcy begins with a petition to the bankruptcy court by the debtor according to 11 U.S.C. § 301. A debtor filing for a voluntary Chapter 11 bankruptcy would need to complete and submit Form B 101. An involuntary Chapter 11 bankruptcy filing is made by creditors according to 11 U.S.C. § 303. The debtor may also need to file additional documents with the court, including:

• A schedule of assets and liabilities owned by the debtor
• A schedule of the debtor’s income and expenditures
• A schedule of unperformed contracts and unexpired leases the debtor is a party to
• The debtor’s financial statement

Married couples filing jointly for a Chapter 11 bankruptcy or individuals may additionally be required to file the following.

• A certificate to show that the debtor went through credit counseling with an approved credit counseling institution within six months of filing for bankruptcy
• Any draft repayment plan developed during the credit counseling
• Evidence of payment received from an employer within 60 days of filing for bankruptcy, if it exists
• Any anticipated increase in income and expenses

Who Files for a Chapter 11 Bankruptcy in New Mexico?

Either a debtor or up to three creditors acting jointly can file for a Chapter 11 bankruptcy in New Mexico. The debtor should file the reorganization plan with the court after filing for bankruptcy. 11 U.S.C. § 1121(b) requires that debtors file the reorganization plan within 120 days, except the debtor is a “small business”. The court may reduce or extend the period within which the debtor is required to file the reorganization plan after filing for bankruptcy. However, it should be within 18 months pursuant to 11 U.S.C. § 112 (d). A creditor or the case trustee may file competing reorganization plans after the period has passed. If the debtor fails to file the reorganization plan within that time, these shall be the only plans considered.

Why File for Chapter 11 Bankruptcy in New Mexico?

A Chapter 11 bankruptcy in New Mexico allows a debtor to reschedule their debts with a reorganization plan. The debtor also gets to hold on to their assets. The debtor would make monthly payments under the plan to repay the creditors. In some cases, the amount of debt may be reduced. A business that is likely to become profitable in the future can use a Chapter 11 bankruptcy in New Mexico to avoid liquidation. Individuals and married couples can also use it to hold on to their assets. The debts are spread out over three to five years.

What is Chapter 7 Bankruptcy in New Mexico?

A Chapter 7 bankruptcy in New Mexico is a type of bankruptcy that involves the liquidation of assets owned by the debtor that are not exempted. The case trustee gathers and sells the debtor’s non-exempt assets. The proceeds from selling these assets are used to pay the creditors as far as can be covered. After the liquidation, a majority of the debtor’s debts are discharged and the debtor may restart financially with their exempted assets.

The court appoints the case trustee. The case trustee would also need to organize a meeting of the creditors. Attendance is not compulsory for the creditors. However, it is compulsory for the debtor. At the meeting, the case trustee would explain the consequences of the bankruptcy proceedings to the debtor. The case trustee would then place the debtor under oath and ask questions regarding the debtor’s finances. The creditors may also ask questions. During the meeting, the case trustee would attempt to ensure that the bankruptcy process is not being abused by the debtor. The case trustee would report to the case judge on the result of the meeting. The debtor may be required to file the following by the court.

• A record of assets and liabilities owned by the debtor
• A record of the debtor’s income and expenditures
• A record of the debtor’s financial statement

Debtors may also be required to file the following if a majority of the debts are consumer rather than business debts.

• A certificate to show that the debtor went through credit counseling with an approved credit counseling institution within six months of filing for bankruptcy
• Any draft repayment plan developed during the credit counseling
• Evidence of payment received from an employer within 60 days of filing for bankruptcy, if it exists
• Any anticipated increase in income and expenses

Do I Qualify for a Chapter 7 Bankruptcy in New Mexico?

Individuals, married couples, partnerships, and businesses may file for a Chapter 7 bankruptcy in New Mexico. The court would attempt to ensure that the debtor really cannot afford to comply with their debt obligations. If the debtor has an income above the median income in New Mexico, the court will apply the means test to determine if the debtor is qualified to file for a Chapter 7 bankruptcy. The means test considers the debtor’s income, expenses, assets, and liabilities to determine if they can comply with their debt obligations without a bankruptcy filing. The debtor should have gone through credit counseling within six months of filing for bankruptcy. Additionally, a debtor cannot file for a Chapter 7 bankruptcy if they had a bankruptcy case dismissed within the preceding six months for disobeying a court order or willfully failing to appear before a court.

Why File for Chapter 7 Bankruptcy in New Mexico?

A Chapter 7 bankruptcy in New Mexico allows a debtor to restart financially. While some assets may be liquidated to repay the creditors, the debtor gets to keep some of their most important assets. Also, assets that might otherwise have been taken away by creditors are protected, such as retirement plans.

What is Chapter 13 Bankruptcy in New Mexico?

A Chapter 13 bankruptcy in New Mexico is a type of bankruptcy that allows a debtor to meet up with debt obligations by rescheduling the debts with a repayment plan. Under the repayment plan, the debtor is to repay the debts within three to five years. The debtor makes monthly payments towards the repayment of the debt. Any debtor filing for a Chapter 13 bankruptcy should have disposable income to commit to the plan. In some cases, the amount of debt may even be reduced to pennies on the dollar. However, the amount paid should not be less than what would have been paid under a Chapter 7 bankruptcy filing.

A debtor filing for a Chapter 13 bankruptcy may need to file the following with the court.

• A record of the debtor’s assets and liabilities
• A record of the debtor’s income and expenditures
• A record of executory contracts and leases yet to expire the debtor is a party to
• The debtor’s financial statement

Do I Qualify for a Chapter 13 Bankruptcy in New Mexico?

Individuals and married couples with a secured debt not exceeding $1,184,200 and an unsecured debt not exceeding $394,725 are qualified for a bankruptcy filing in New Mexico. The debtor filing for a Chapter 13 bankruptcy should have gone through credit counseling in an approved credit counseling institution within six months of filing for bankruptcy. A debtor cannot file a Chapter 13 bankruptcy if they had a bankruptcy case dismissed within six months for disobedience of a court order or failing to appear before a court.

Why File for Chapter 13 Bankruptcy in New Mexico?

A Chapter 13 bankruptcy in New Mexico helps a debtor meet their debt obligations by rescheduling the debts. The debtor may pay the debt over some time, usually three to five years. The amount of debt to be paid may also be reduced. A debtor can use a Chapter 13 bankruptcy to prevent repossession of assets or foreclosure on homes.

What is the Difference Between Chapter 7 and Chapter 13 Bankruptcy in New Mexico?

The major difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy in New Mexico is that a Chapter 7 bankruptcy involves liquidation while a Chapter 13 bankruptcy involves a reorganization plan. In a Chapter 7 bankruptcy, the bankruptcy court appoints a case trustee who gathers and sells the debtor’s non-exempt property to pay the creditors to the extent that can be covered. After this, the remainder of the debts is discharged. However, not all debts can be discharged. Most taxes, car payments, and mortgages cannot be discharged through a Chapter 7 bankruptcy. A Chapter 13 bankruptcy involves a reorganization plan. Under this, the debtor would make monthly payments towards the payment of the debts. The debts are rescheduled, with a potential reduction in the total amount to be paid. A Chapter 7 bankruptcy takes only a few months, while a Chapter 13 bankruptcy takes three to five years. Also, a Chapter 7 bankruptcy is available to individuals, married couples, and businesses, while a Chapter 13 bankruptcy is only available to individuals and married couples. The total amount of money paid under a Chapter 13 bankruptcy should not be less than what would have been paid under a Chapter 7 bankruptcy.

What is Bankruptcy Protection in New Mexico?

Bankruptcy protection in New Mexico is an order issued by the court upon receipt of a bankruptcy filing that prevents creditors from attempting to collect debts. The debtor is expected to file the names of the creditors and their addresses with the court. The court would issue the order to all creditors provided by the debtor and would have the order delivered to all of the creditors at the address provided. A creditor that receives the order cannot attempt to carry out any action to recollect the debt owed to them. This includes calls, messages, enforcement of court judgments, legal action, or repossession. Any creditor that fails to obey the order may face fines and other penalties for contempt of court, damages, court fees, and attorney fees.

What are New Mexico Bankruptcy Exemptions?

New Mexico bankruptcy exemptions are a list of property that can be retained by a debtor filing for a Chapter 7 bankruptcy in the state. New Mexico gives debtors filing for bankruptcy the option to choose either the New Mexico exemptions or the federal exemptions. Debtors may choose whichever is more favorable in their situation. To keep any asset not included in the exemption list, the debtor would need to pay the case trustee the asset’s value. The state exemptions provided by New Mexico include:

• Homestead exemption. A debtor may protect up to $60,000 of equity in their home.
• Motor vehicle exemption. A debtor may protect up to $4,000 of equity in a single vehicle.
• Personal property exemptions. A debtor may protect all clothing, furniture, books, and medical health equipment prescribed for the debtor. There is a $1,500 exemption for tools of the trade. The debtor may retain up to $2,500 worth of jewelry. Additionally, the debtor may retain up to $5,000 of benefits from a benevolent association or fraternal society.
• Wage exemption. 75% of the debtor’s disposable income or 40 times the federal minimum wage, whichever is higher.
• Life insurance exemption. Life insurance benefits are fully exempt.
• Support or benefit exemption. Disability benefits, social security, veterans assistance benefits, and unemployment benefits are fully exempt.
• Retirement account exemption. Retirement accounts are fully protected.
• Wildcard exemption. There is a wildcard exemption of $500 that can be used to protect any property. If the debtor does not use the homestead exemption, up to $5,000 may be used to protect any real or personal property.

What are the Other Types of Bankruptcy in New Mexico?

Another type of bankruptcy available in New Mexico is the Chapter 12 bankruptcy. This type of bankruptcy is only open to farmers and fishermen. It is open to individuals, married couples, partnerships, and corporations engaged in farming or fishing operations. However, a majority of the debt should have been incurred due to the farming or fishing operation. The debt should not exceed $4,153,150 for a farming operation or $1,924,550 for a fishing operation. This type of bankruptcy is simple, streamlined, and inexpensive to suit the needs of farmers and fishermen.

There are other debt management options that debtors can explore besides filing for bankruptcy. One of such options is going through client counseling. During the client counseling program, a draft debt repayment plan is usually developed. A debtor may be able to repay their debts by following the plan. The debtor may also choose to reach an out-of-court agreement with the creditors on how the debts should be repaid.

How Much Does It Cost to File Bankruptcy in New Mexico

In New Mexico, filing fees, legal expenses, and the price of credit counseling and financial management classes are all included in the cost of declaring bankruptcy. Currently, Chapter 7 bankruptcy filing costs $335, and Chapter 13 bankruptcy filing costs $310. The cost of an attorney might vary and be anything from several hundred and several thousand dollars. Classes on money management and credit counseling often cost $50 to $100. A person might represent themselves in court or file for Chapter 7 bankruptcy to cut costs.