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ABOUT CHAPTER 7
HOW CHAPTER 7 WORKS
THE CHAPTER 7 DISCHARGE
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HOW CHAPTER 13 WORKS
THE CHAPTER 13 DISCHARGE
STATE EXEMPTIONS
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New Mexico bankruptcy exemptions  NM Bankruptcy Exemptions

FEDERAL BANKRUPTCY EXEMPTIONS ARE AVAILABLE
All Bankruptcy law references are to New Mexico Code Annotated.

ASSET

EXEMPTION

LAW PROVISION

HOMESTEAD

$60,000; includes "dwelling house" being purchased or leased (even if land on which it sits is owned by another).(joint owners may double)

42-10-9

INSURANCE

Benevolent association benefits to $5000

Life insurance proceeds

Fraternal benefit society benefits

Life, accident, health or annuity benefits, withdrawal or cash value, if beneficiary is a New Mexico citizen

42-10-4


42-10-5

59A-44-18


42-10-3

MISCELLANEOUS

Ownership interest in unincorporated association

Property of business partnership

53-10-3


54-1-25

PENSIONS

Pension or retirement benefits

Public school employees

42-10-1, 42-10-2

22-11-42A

PERSONAL PROPERTY

Books, health equipment & furniture

Building materials

Clothing

Cooperative association shares, minimum amount needed to be member

Jewelry to $2500

Materials, tools & machinery to dig, torpedo, drill, complete, operate or repair oil line, gas well or pipeline

Motor vehicle to $4000.

42-10-1, 42-10-2

48-2-15

42-10-1, 42-10-2


53-4-28


42-10-1, 42-10-2

70-4-12



42-10-1, 42-10-2

PUBLIC BENEFITS

AFDC, general assistance

Crime victims' compensation (this will be repealed effective 7/1/06).

Occupational disease disablement benefits

Unemployment compensation

Workers’ compensation

27-2-21

31-22-15


52-3-37


51-1-37

52-1-52

TOOLS OF TRADE

$1500

42-10-1, 42-10-2

WAGES

Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low- income debtors

35-12-7

WILD CARD

$500 of any personal property

$5000 of any property in lieu of homestead

42-10-1

42-10-10



New Mexico bankruptcy courts  NM Bankruptcy Courts
See the list below for Bankruptcy Courts by District. Click on the District link to go directly to that Bankruptcy Court's web site.

BANKRUPTCY COURTS NUMBER OF COPIES
District Of New Mexico
Mailing Address:
PO Box 546
Albuquerque New Mexico 87103-0546

Office of the Clerk
500 Gold Avenue SW, Tenth Floor
Albuquerque, NM 87102
Telephone: (866) 291-6805

contact clerks office

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