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New Mexico Bankruptcy Court

When people in New Mexico have accumulated debts that they are unable to pay, filing for bankruptcy has advantages for both debtor and creditors. It is, however, a complex proceeding in which the advice of a bankruptcy attorney can provide invaluable help during a stressful time.

Today, so many people are going to court to file a financial distress petition. Large operation bills, credit card debt, student loans or inability to pay for your mortgage, having a severe financial setback, such as losing your job or a major client, a divorce or a costly illness, causes insolvency.

The New Mexico Bankruptcy Court vision is to be a collegial court, committed to excellence providing, just, speedy and inexpensive resolution of cases while promoting public confidence in the judicial system, rendering high quality constituent services and fostering professionalism among judges, staffs and users.

Though the 341 meetings or other court business might be handled at a location different from the courthouse, the trials are held at the Bankruptcy courts itself. The New Mexico Bankruptcy Court mainly refers to the New Mexico Bankruptcy District Courts which are located at Albuquerque, Las Cruses and Roswell.

Find New Mexico Bankruptcies Online

The Court and Administrative Officials strive to provide access to court information through the Internet that is whenever possible, within minutes. Your search for records and cases may vary from suspecting your business partner to doing research based work in your academics. Online databases of New Mexico Bankruptcies are helpful with all case information and legal proceedings in context to bankruptcy. These databases can provide various types of information pertaining to a particular case or the laws associated with the bankruptcy. These online informational databases also provide detailed reports on exemptions pertaining to bankruptcy cases.

Bankruptcy filing in New Mexico is on the lesser side in comparison to the other states of the U.S. The 2002 statistics showed that there were just 9,274 file suits the entire year which is much smaller than that of even the district Courts of other states. Out of these figures 8,581 consumers applied for Bankruptcy Filing while the other 693 cases were from business organizations. There have been 8,383 cases under Chapter 7("straight bankruptcy") involving liquidation of assets to pay debts.

Some significant cases in this New Mexico Bankruptcy Courts, includes the lawsuit of the Appellants, Ronald Hugh Standiferd and Betty Ann Standiferd against the appellee, United States Trustee filed in January 28, 2009 under the case number of 1:2009cv00083 in the Bankruptcy Appeal (801) Office of Bernalillo county in which the presiding Judge Robert C. Brack took the hearing as referred by the Magistrate Judge Richard L. Puglisi.

The case of MVD Specialists, LLC (appellant) v. Nicolae Sgaverdea (appellee) booked in October 26, 2007 with case number 1:2007cv01089 in the Albuquerque Office of New Mexico District Court only signifies the slow growth rate in Bankruptcy case filing in New Mexico. The case was under the District Judge William P. Johnson.

Another important case of 2007 is that of the plaintiff, David Brian Derringer against the defendant, Mick Chapel, Jennifer Chapel and Joseph Manges filed on August 2, 2007 in 1:2007cv00741 under District Judge William P. Johnson.