By Shawn Martin
The New Mexico payday loan laws are set up to be very much on the side of the lender.
This state has no limits on the amount you can borrow or any limits on how long you can borrow it.
This can be a very bad combination for the borrower as it can lead to too much debt and no way to keep up with it.
New Mexico’s payday loan law on interest is anything the lender and borrower will agree upon. this can lead to incredible rates and fees that can bury the borrower in a hurry.
There are no limits on how many loans the borrower may take out and no limits on how many times the borrower may roll the payday loan over.
This state is set up for maximum profits for the loan companies and huge losses for the borrower. It is highly recommended to avoid these types of loans in this state.
We can help!
If you have payday loan debt in this state or any other state we recommend paying the loans off in full as soon as possible to avoid getting caught in the payday loan trap.
Caught already? We can help!
Check out our payday loan repayment plan and get your finances back under control today. It is so easy once you get trapped to feel like your hands are tied and there is no hope.
You can take action today by consolidating your payday loan debt into one payment and stop all the collection action. Fill out our form for a no obligation free quote on how we can help you get started on eliminating this debt!
We hope this information on New Mexico payday loan laws will help you take the control back from these companies and get you back on track in your finances and put some peace of mind back in your life.