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New Mexico Lawyers Serving New Mexico's Legal Needs Since 1997

Albuquerque Law Blog

What collection options are open to creditors?

What can you do when a customer fails to pay his debts? There are two basic scenarios – go to the courts, or don’t go to the courts.

There are several options if you choose to avoid court action. The most basic is to contact the debtor and work out a payment method. If that doesn’t work, you can transfer or sell the debt to another organization that will then collect the debt. These are called debt collection agencies and they are governed by a set of rules called the Fair Debt Collection Practices Act.

How Bankruptcy May Help You Keep Your Home

At times when people come to see us, they are often in danger of losing their homes. In many of those situations, however, we may be able to help them keep their homes through bankruptcy, or other legal options that may be available.

Where a person has a regular form of income, Chapter 13 bankruptcy provides a number of options to homeowners seeking to keep their homes.

When is a Chapter 7 bankruptcy right for your business?

When your business bank account is light and credit collectors are knocking at your door, it might be a good time to consider bankruptcy. If your business has no real financial future, Chapter 7 bankruptcy might be right for you.

A Chapter 7 bankruptcy allows for an orderly liquidation when the debts against the business are so overwhelming that restructuring the debt is not a viable option.

How to file an extension for state, federal taxes

As April 15 nears and you get your taxes ready for the IRS, you may find that in some cases, the new federal tax law doesn’t jibe with state laws which makes filing state and federal taxes less than seamless.

If you have trouble with your taxes, you may consider filing for a deadline extension.

Development group plans for affordable housing alternative

Affordable housing continues to be a hot topic in conversation. Many people across the United States struggle with finding a balance between their earned income and where they can lay their heads. However, New Mexico is soon to see more options. PEG Companies, based in Provo, Utah, plans to turn the existing Santa Fe Residence Inn into apartments.

The concept of converting older hotels into housing options has taken root in other states over the past year as PEG recognized that they could do something about the housing crisis. The Residence Inn rooms already have stoves and refrigerators. And if you think about the cost of renovating an existing building versus starting from scratch, you may agree with PEG’s strategy for providing more rental options under $7oo per month.

Medical bills cause bankruptcy rates to soar for older Americans

The number of bankruptcies for people older than 65 has gone up 204 percent between 1991 and 2016, a recent study finds, and one of the main causes is skyrocketing out-of-pocket medical expenses.

A recent study found a two-fold increase in the number of Americans age 65 and older who have filed for bankruptcy and a five-fold increase in the number who are in the bankruptcy system.

Americans continue to struggle under debt

A new poll finds that of all the people in the U.S. with debt, 65 percent say they don’t know when they’ll be out from under the debt. In that group, 25 percent say they’ll still have debt when they die.

The survey, released in early 2019 by CreditCard.com, saw numbers dip slightly from the year before when 68 percent said they didn’t know when they’d get out of debt.

In another shutdown, 6,000 in NM can file for unemployment

With more than 6,000 federal employees, New Mexico is one of the states that was most affected by the partial federal government shutdown in December and January. If lawmakers in Washington D.C. again shut down the federal government, affected federal workers can apply for state unemployment benefits.

Furloughed employees include those who are not employed in national defense, law enforcement or activities directly involved in the protection of life and property. A furloughed employee can apply for unemployment benefits starting on the first day you are furloughed until the day the furlough ends.

How to rebuild your credit after a divorce

In many marriages, one spouse usually handles the bills while the other earns money or takes care of the children. That’s why after a divorce, one spouse could be in for a surprise when it comes to their credit rating.

Some newly divorced spouses consider bankruptcy as they look at their finances, but there are other steps a lawyer can help you to manage before you resort to a legal remedy.

Managing your finances after an unexpected job loss

Job security is a thing of the past. A boss who sustains a bad quarter could easily decide your job or department is the one that, if eliminated, will convince board members and stockholders to give the company another chance.

That means that no matter how good you were at your job, you are now unemployed. How do you handle your finances next?

Watch our videos to learn of the many ways we can help you with your legal needs.

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Giddens & Gatton Law, P.C.
10400 Academy Road NE
Suite 350
Albuquerque, NM 87111

Phone: 505-273-3720
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