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Credit repair is important in New Mexico. Your credit score affects all of your financing expenses. A poor credit score can cost you hundreds of dollars in higher interest payments every month. In cat we can help you improve your credit score usually in 45 to 60 days. An important part of financial stability is how to repair credit to maintain the highest credit score possible especially in New Mexico.

Want to have better credit?

Credit Repair The automatic stay stops most collection efforts during your bankruptcy. But the stay is not absolute – creditors can ask the bankruptcy court to remove the stay, called lifting the automatic stay. If successful, the creditor can continue its collection efforts against you.


Read on to learn how creditors can lift the stay, when they might ask the court to lift the stay, and more.
What Is the Automatic Stay?

The automatic stay prohibits creditors from collecting from you while your bankruptcy case is proceeding. It takes effect immediately upon filing the bankruptcy case (that’s why it’s called automatic), and it stops (stays) collection action on pre-bankruptcy debts. The intent is to give you a breathing spell from creditor harassment while you develop a plan to reorganize your finances.

The automatic stay is both broad and powerful. Since it only has a few narrow exceptions, creditors must tread very carefully during a bankruptcy case or risk violating the court’s injunction.

(To learn more about the automatic stay, see the articles in our Bankruptcy’s Automatic Stay area.)
Asking the Court to Remove the Stay: Motions to Lift the Stay

If a creditor wants to continue to collect from the debtor during the bankruptcy, it can seek permission directly from the court to do so, known as “lifting” or getting “relief from” the automatic stay. The creditor must do this by filing a “motion” with the court.

Motions to lift the stay are not as common as one would think. When a creditor files a motion to lift the automatic stay, the debtor is entitled to notice and a hearing. The burden is on the creditor to convince the bankruptcy court that there is a very good reason to lift the stay, and the court is predisposed to continue the bankruptcy protection. For instance, the court will not lift the stay when an unsecured debt will be included in the debtor’s discharge.

When a Court Might Lift the Automatic Stay
Can credit repair help you in New Mexico to achieve financial stability? Repair Credit How do I find a reputable credit counselor?

Most credit counselors offer services through local offices, online, or on the telephone. You can find a list of approved credit counselors online.

Once you've developed a list of potential counseling agencies, check them out with your State Attorney General’s office, and local consumer protection agency.

Finally, ask the credit counseling agency for free information about their services and what they provide.A reputable credit counseling agency should be willing to send you free information about itself and the services it provides without requiring you to provide any details about your situation. If a service doesn’t do that, consider it a red flag and go elsewhere for help.
Credit Repair