| Ask your senator to pass SB 216 so families can meet basic needs while paying down debt! |
| Senate Bill 216, Bankruptcy Exemptions, is expected to be debated on the Senate Floor as soon as tomorrow. We need your help now to get it passed! Call or email your senator TODAY and ask them to support SB 216! Use this link to find contact information for the senator who represents your district: https://www.nmlegis.gov/Members/Find_My_Legislator All New Mexicans should be able to meet their basic needs, regardless of their debt status. Over 40% of New Mexicans have debt in collections and thousands file for bankruptcy annually. New Mexico law protects minimal income in wage garnishment, and essential property, like a home and vehicle, in bankruptcy. But unfortunately, the value of protected property has not been updated in decades, if at all. In just the last year, inflation reached a 40 year high of 9% and the average cost of a home in New Mexico increased over 18%. The outdated law prevents families from recovering from debt and hurts our local economies. SB 216, sponsored by Sen. O’Neill & Rep. Chasey, would protect families with debt by:Increasing the value of property protected from collections in bankruptcy and wage garnishment and adjusts property values to increase with inflation. This would:Prevent creditors from taking so much of the family’s wages that the they are pushed to below minimum wage; Allow the family to keep a used car of at least average value; Preserve the family’s home; Preserve a basic amount in a bank account so that the family can still afford essentials such as rent, utilities, and commuting expenses;Prevent seizure and sale of the family’s necessary household goods.Require that families with debt are instantly made aware of when someone tries to garnish their wages.You can say something like this: “As a constituent of yours, I urge you to support SB 216. Everyone deserves to be able to meet basic needs while paying down debt. This bill would modernize New Mexico law and bring us in line with neighboring states.” Thank you for your support! |
