Albuquerque Personal Loan in 2025

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New Mexico Albuquerque

Eligibility Criteria for Personal Loans

  • Valid government-issued identification for identity verification.
  • Proof of residence, such as a utility bill or lease agreement, to establish current address.
  • Recent bank statement to demonstrate financial standing and ability to repay.
  • Active bank account where funds can be deposited and repayments can be made.
  • Employment verification or proof of steady income to ensure financial stability.
  • Completed application form with accurate personal and contact information.
  • Consent to a credit check, if applicable, to assess creditworthiness.

Trusted Personal Loan Lenders in Albuquerque, NM

Discover reliable personal loan lenders who empower your financial journey. Trust our expert-curated list to find the perfect match for your financial needs and aspirations.

Lender
User Ratings
Address
Phone
Category
Union Home Mortgage
User Raiting:
5.00
Address: 6565 Americas Parkway NE, Suite 200 | Office, 226, Albuquerque, NM 87110
Phone: +1 (505) 585-2741
Category: Financial institution
WaFd Bank
User Raiting:
5.00
Address: 3761 NM-528 NW, Albuquerque, NM 87114
Phone: +1 (505) 890-2600
Category: Bank
Nita Diem | Loan Officer | Frost Mortgage Lending Group
User Raiting:
5.00
Address: 2051 Wyoming Blvd NE, Albuquerque, NM 87112
Phone: +1 (505) 292-7200
Category: Financial institution
Kirtland Federal Credit Union
User Raiting:
5.00
Address: 4101 Coors Blvd NW Suite B, Albuquerque, NM 87120
Phone: +1 (800) 880-5328
Category: Credit union
Koach Financial
User Raiting:
5.00
Address: 1311 Tijeras Ave NW, Albuquerque, NM 87102
Phone: +1 (505) 314-3470
Category: Financial institution
Guild Mortgage - Teresa Walsh
User Raiting:
5.00
Address: 5941-a, Jefferson St NE, Albuquerque, NM 87109
Phone: +1 (505) 816-0483
Category: Financial institution
Oscar Medrano Loan Officer NMLS#1763251
User Raiting:
5.00
Address: 6725 Academy Rd NE, Albuquerque, NM 87109
Phone: +1 (505) 697-1598
Category: Financial institution
Sherry Chadwick, Finance of America Mortgage LLC
User Raiting:
5.00
Address: 9400 Holly Ave NE Bldg 4, Ste R, Albuquerque, NM 87122
Phone: +1 (505) 259-6440
Category: Financial institution
Regional Finance
User Raiting:
5.00
Address: 1331 Juan Tabo Blvd NE Suite 2C, Albuquerque, NM 87112
Phone: +1 (505) 275-4733
Category: Loan agency
loanDepot LLC Mortgage David Rosenthal Albuquerque Rio Rancho New Mexico
User Raiting:
5.00
Address: 8220 San Pedro Dr NE #420, Albuquerque, NM 87113
Phone: +1 (505) 377-5254
Category: Financial institution
Auto Title Loans Albuquerque Co. by Get iLoan
User Raiting:
5.00
Address: 4100 Central Ave SW #104, Albuquerque, NM 87105
Phone: +1 (505) 317-5002
Category: Loan agency
Guardian Mortgage
User Raiting:
5.00
Address: 7300 Jefferson St NE, Albuquerque, NM 87109
Phone: +1 (505) 798-5827
Category: Financial institution
Clint G Bridges Mortgage
User Raiting:
5.00
Address: 2727 San Pedro Dr NE # 110, Albuquerque, NM 87110
Phone: +1 (505) 889-3545
Category: Financial institution
Sheila Aragon- Legacy Mortgage NMLS#1025927
User Raiting:
5.00
Address: 6725 Academy Rd NE, Albuquerque, NM 87109
Phone: +1 (505) 573-4782
Category: Financial institution
Rob Hill, Nusenda Mortgage Loan Originator
User Raiting:
5.00
Address: 4100 Pan American Fwy NE, Albuquerque, NM 87107
Phone: +1 (505) 313-3690
Category: Financial institution
Enright Mc Fall Mortgage Group
User Raiting:
5.00
Address: 9500 Montgomery Blvd NE # 112, Albuquerque, NM 87111
Phone: +1 (505) 881-4685
Category: Financial institution
TitleMax Title Loans
User Raiting:
5.00
Address: 1609 Isleta Blvd SW D, Albuquerque, NM 87105
Phone: +1 (505) 217-1468
Category: Loan agency
Infiniti Mortgage, LLC
User Raiting:
5.00
Address: 4801 Lang Ave NE Ste 110, Albuquerque, NM 87109
Phone: +1 (505) 881-0801
Category: Financial institution
Cardinal Financial | Limited Partnership - Albuquerque NMLS# 66247
User Raiting:
5.00
Address: 6501 Wyoming Blvd NE Building I, Suite #1, Albuquerque, NM 87109
Phone: +1 (505) 263-4888
Category: Financial institution
Aaron Thompson - Legacy Mortgage
User Raiting:
5.00
Address: 6725 Academy Rd NE, Albuquerque, NM 87109
Phone: +1 (505) 977-6699
Category: Financial institution
LendNation
User Raiting:
5.00
Address: 1698 Rio Bravo Blvd SW Ste 1, Albuquerque, NM 87105
Phone: +1 (505) 452-0200
Category: Loan agency
US Eagle Federal Credit Union
User Raiting:
5.00
Address: 1955 Juan Tabo Blvd NE, Albuquerque, NM 87112
Phone: +1 (505) 342-8888
Category: Credit union
Heather Daley Team
User Raiting:
5.00
Address: 8801 Jefferson St NE bldg b, Albuquerque, NM 87113
Phone: +1 (505) 228-6048
Category: Financial institution
Bell Bank Mortgage, Yvette Klinkmann
User Raiting:
5.00
Address: 2440 Louisiana Blvd NE Suite 110, Albuquerque, NM 87110
Phone: +1 (505) 280-0508
Category: Financial institution
Matt Hunter Mortgage Loan Officer- NMLS #191394
User Raiting:
5.00
Address: 6300 Riverside Plaza Ln Suite 230, Albuquerque, NM 87120
Phone: +1 (505) 385-4385
Category: Financial institution
Zoe Enright Legacy Mortgage NMLS# 298803
User Raiting:
5.00
Address: 8200 Carmel Ave NE, Albuquerque, NM 87122
Category: Financial institution
Primary Residential Mortgage, Inc.
User Raiting:
5.00
Address: 8300 Carmel Ave NE STE 201, Albuquerque, NM 87122
Phone: +1 (505) 364-3080
Category: Financial institution
Chris Hood Suburban Mortgage
User Raiting:
5.00
Address: 6501 Wyoming Blvd NE Building I Suite # 1, Albuquerque, NM 87109
Phone: +1 (505) 453-5506
Category: Financial institution
Cameron Gilmore - Loan Officer - Legacy Mortgage
User Raiting:
5.00
Address: 8200 Carmel Ave NE, Albuquerque, NM 87122
Phone: +1 (505) 261-5484
Category: Financial institution
New Mexico Title Loans, Inc.
User Raiting:
5.00
Address: 6610 Central Ave SE, Albuquerque, NM 87108
Phone: +1 (505) 254-3526
Category: Loan agency
New Mexico Title Loans, Inc.
User Raiting:
5.00
Address: 11300 Central Ave SE, Albuquerque, NM 87123
Phone: +1 (505) 292-9118
Category: Loan agency
TitleMax Title Loans
User Raiting:
5.00
Address: 7717 Menaul Blvd NE, Albuquerque, NM 87110
Phone: +1 (505) 296-3222
Category: Loan agency
Montana Capital Bad Credit Loans
User Raiting:
5.00
Address: 1625 Rio Bravo Blvd SW # 14, Albuquerque, NM 87105
Phone: +1 (505) 370-7121
Category: Loan agency
Loanmax Title Loans
User Raiting:
5.00
Address: 6001 Central Ave NE, Albuquerque, NM 87108
Phone: +1 (505) 256-8737
Category: Loan agency
Lisa Cummings | Fairway Independent Mortgage Corporation Branch Manager
User Raiting:
5.00
Address: 8212 Louisiana Blvd NE Suite B, Albuquerque, NM 87113
Phone: +1 (505) 884-8600
Category: Financial institution
Check `n Go
User Raiting:
4.90
Address: 110 98th St NW B, Albuquerque, NM 87121
Phone: +1 (505) 839-5119
Category: Loan agency
TitleMax Title Loans
User Raiting:
4.90
Address: 5200 Central Ave SE, Albuquerque, NM 87108
Phone: +1 (505) 217-1461
Category: Loan agency
World Finance
User Raiting:
4.90
Address: 2626 San Pedro Dr NE Ste C, Albuquerque, NM 87110
Phone: +1 (505) 889-0000
Category: Loan agency
Payment 1 Loans - Albuquerque
User Raiting:
4.90
Address: 3410 NM-528 #107, Albuquerque, NM 87114
Phone: +1 (505) 897-4755
Category: Loan agency
Payment 1 Loans - Albuquerque
User Raiting:
4.90
Address: 6125 Montgomery Blvd NE #4, Albuquerque, NM 87109
Phone: +1 (505) 884-0805
Category: Loan agency
Cash Store
User Raiting:
4.90
Address: 3510 Coors Blvd SW Ste B, Albuquerque, NM 87121
Phone: +1 (505) 873-2285
Category: Loan agency
TitleMax Title Loans
User Raiting:
4.90
Address: 4603 4th St NW, Albuquerque, NM 87107
Phone: +1 (505) 217-7438
Category: Loan agency
Sun Loan Company
User Raiting:
4.90
Address: 111 Coors Blvd NW #C2, Albuquerque, NM 87121
Phone: +1 (505) 831-1305
Category: Loan agency
TitleMax Title Loans
User Raiting:
4.90
Address: 3900 San Mateo Blvd NE, Albuquerque, NM 87110
Phone: +1 (505) 883-3096
Category: Loan agency
New Mexico Title Loans, Inc.
User Raiting:
4.90
Address: 5260 Montgomery Blvd NE, Albuquerque, NM 87109
Phone: +1 (505) 830-1808
Category: Loan agency
New Mexico Title Loans, Inc.
User Raiting:
4.90
Address: 3620 4th St NW, Albuquerque, NM 87107
Phone: +1 (505) 341-2088
Category: Loan agency
TitleMax Title Loans
User Raiting:
4.90
Address: 4420 Central Ave SW, Albuquerque, NM 87105
Phone: +1 (505) 836-7310
Category: Loan agency
Check `n Go
User Raiting:
4.90
Address: 5616 Menaul Blvd NE, Albuquerque, NM 87110
Phone: +1 (505) 872-1300
Category: Loan agency
TitleMax Title Loans
User Raiting:
4.90
Address: 1500 Juan Tabo Blvd NE, Albuquerque, NM 87112
Phone: +1 (505) 298-0016
Category: Loan agency
Loanmax Title Loans
User Raiting:
4.90
Address: 4625 4th St NW, Albuquerque, NM 87107
Phone: +1 (505) 342-4735
Category: Loan agency
ACE Cash Express
User Raiting:
4.80
Address: 4001 San Mateo Blvd NE Ste D, Albuquerque, NM 87110
Phone: +1 (505) 889-8084
Category: Loan agency
Oportun
User Raiting:
4.80
Address: 1625 Rio Bravo Blvd SW, Albuquerque, NM 87105
Phone: +1 (505) 702-8624
Category: Loan agency
Mortgage Solutions Financial Albuquerque
User Raiting:
4.80
Address: 7770 Jefferson St NE ste 100, Albuquerque, NM 87109
Phone: +1 (505) 208-0469
Category: Financial institution
New Mexico Title Loans, Inc.
User Raiting:
4.80
Address: 5700 Central Ave SW, Albuquerque, NM 87105
Phone: +1 (505) 833-1040
Category: Loan agency
LendNation
User Raiting:
4.80
Address: 6424 4th St NW, Albuquerque, NM 87107
Phone: +1 (505) 342-0100
Category: Loan agency
Loanmax Title Loans
User Raiting:
4.80
Address: 5614 Central Ave SW, Albuquerque, NM 87105
Phone: +1 (505) 352-0495
Category: Loan agency
Regional Finance
User Raiting:
4.70
Address: 3301 Coors Blvd NW Suite 16, Albuquerque, NM 87120
Phone: +1 (505) 415-7970
Category: Loan agency
ACE Cash Express
User Raiting:
4.70
Address: 4720 Central Ave SE, Albuquerque, NM 87108
Phone: +1 (505) 266-6151
Category: Loan agency
Check `n Go
User Raiting:
4.70
Address: 6001 Lomas Blvd NE, Albuquerque, NM 87110
Phone: +1 (505) 255-2987
Category: Loan agency
First Financial Credit Union
User Raiting:
4.70
Address: 10400 Academy Rd NE #150, Albuquerque, NM 87111
Phone: +1 (505) 766-5600
Category: Credit union
Cash Store
User Raiting:
4.70
Address: 333 San Mateo Blvd SE Ste D, Albuquerque, NM 87108
Phone: +1 (505) 254-2274
Category: Loan agency
Cash Store
User Raiting:
4.60
Address: 2010 Wyoming Blvd NE Ste J, Albuquerque, NM 87112
Phone: +1 (505) 237-2274
Category: Loan agency
Sandia Area Federal Credit Union
User Raiting:
4.60
Address: 11301 Montgomery Blvd NE, Albuquerque, NM 87111
Phone: 150529263435
Category: Financial institution
Indigo Mortgage
User Raiting:
4.50
Address: 5501 Eagle Rock Ave NE Bldg B, Albuquerque, NM 87113
Phone: +1 (505) 836-5700
Category: Financial institution
Title Cash
User Raiting:
4.50
Address: 4009 San Mateo Blvd NE, Albuquerque, NM 87110
Phone: +1 (505) 884-4848
Category: Loan agency
Main Bank
User Raiting:
4.40
Address: 7300 Menaul Blvd NE, Albuquerque, NM 87110
Phone: +1 (505) 880-1700
Category: Bank
Regional Finance
User Raiting:
4.40
Address: 5504 Menaul Blvd NE suite g, Albuquerque, NM 87110
Phone: +1 (505) 835-1619
Category: Loan agency
Sandia Laboratory Federal Credit Union
User Raiting:
4.40
Address: 1301 Britt St, Albuquerque, NM 87123
Phone: +1 (505) 293-0500
Category: Financial institution
Title Alliance of New Mexico
User Raiting:
4.40
Address: 11000 Spain Rd NE building c, Albuquerque, NM 87111
Phone: +1 (505) 503-6348
Category: Financial institution
Natalie Fallbach | New Mexico Home Loans NMLS#1452954
User Raiting:
4.40
Address: 5300 Sequoia Rd NW Unit 204, Albuquerque, NM 87120
Phone: +1 (505) 506-7232
Category: Financial institution
Nusenda Credit Union
User Raiting:
4.30
Address: Roma Avenue Northeast The University of New Mexico 1, Albuquerque, NM 87106
Phone: +1 (505) 889-7755
Category: Credit union
Regional Finance
User Raiting:
4.30
Address: 3724 Las Estancias Way Suite D, Albuquerque, NM 87121
Phone: +1 (505) 873-3413
Category: Loan agency
Sandia Area Federal Credit Union
User Raiting:
4.30
Address: 6410 Coors Blvd NW, Albuquerque, NM 87120
Phone: +1 (505) 292-6343
Category: Bank
U.S. Eagle Federal Credit Union
User Raiting:
4.30
Address: 5201 Antequera Rd NW, Albuquerque, NM 87120
Phone: +1 (505) 342-8888
Category: Credit union
Title Cash
User Raiting:
4.20
Address: 5509 Menaul Blvd NE, Albuquerque, NM 87110
Phone: +1 (505) 884-8848
Category: Loan agency
Checkmate
User Raiting:
4.20
Address: 8201 Golf Course Rd NW, Albuquerque, NM 87120
Phone: +1 (505) 899-6400
Category: Loan agency
DreamSpring
User Raiting:
4.20
Address: 2000 Zearing Ave NW, Albuquerque, NM 87104
Phone: +1 (800) 508-7624
Category: Loan agency
Sandia Area Federal Credit Union
User Raiting:
4.20
Address: 8000 Palomas Ave NE, Albuquerque, NM 87109
Phone: +1 (505) 292-6343
Category: Financial institution
Rio Grande Credit Union
User Raiting:
4.10
Address: 301 Rio Bravo Blvd SE, Albuquerque, NM 87105
Phone: +1 (505) 262-1401
Category: Credit union
Rio Grande Credit Union
User Raiting:
4.10
Address: 10001 Lomas Blvd NE, Albuquerque, NM 87112
Phone: +1 (505) 262-1401
Category: Credit union
Fidelity National Title
User Raiting:
4.10
Address: 6743 Academy Rd NE suite a, Albuquerque, NM 87109
Phone: +1 (505) 889-2372
Category: Financial institution
OneMain Financial
User Raiting:
4.10
Address: 6300 San Mateo Blvd NE Ste H-2, Albuquerque, NM 87109
Phone: +1 (505) 821-1911
Category: Loan agency
Legacy Mortgage
User Raiting:
4.00
Address: 6725 Academy Rd NE, Albuquerque, NM 87109
Phone: +1 (505) 296-4747
Category: Financial institution
Robert Springer Legacy Mortgage
User Raiting:
4.00
Address: 6725 Academy Rd NE, Albuquerque, NM 87109
Phone: +1 (505) 306-0195
Category: Financial institution
Southwest Financial
User Raiting:
4.00
Address: 2626 San Pedro Dr NE D, Albuquerque, NM 87110
Phone: +1 (505) 888-1050
Category: Loan agency
Bank of Albuquerque Mortgage
User Raiting:
4.00
Address: 3900 Vassar Dr NE 1st Floor, Albuquerque, NM 87107
Phone: +1 (505) 855-0545
Category: Financial institution
UNM Hospital Patient Financial Services
User Raiting:
4.00
Address: 1131 University Blvd NE, Albuquerque, NM 87102
Phone: +1 (505) 272-2521
Category: Financial institution
First Financial Credit Union - San Mateo
User Raiting:
4.00
Address: 2700 San Mateo Blvd NE, Albuquerque, NM 87110
Phone: +1 (505) 766-5600
Category: Credit union
Fidelity National Title of NM
User Raiting:
4.00
Address: 3741 NM-528 NW, Suite A, Albuquerque, NM 87114
Phone: +1 (505) 899-5690
Category: Financial institution
First American Bank
User Raiting:
4.00
Address: The 25 Way, Albuquerque, NM 87109
Phone: +1 (505) 798-3580
Category: Bank
Kirtland Federal Credit Union
User Raiting:
3.90
Address: 10200 Corrales Rd Suite F, Albuquerque, NM 87114
Phone: +1 (505) 254-4369
Category: Credit union
WaFd Bank
User Raiting:
3.90
Address: 3000 Eubank Blvd NE, Albuquerque, NM 87111
Phone: +1 (505) 291-3700
Category: Bank
Sandia Laboratory Federal Credit Union
User Raiting:
3.90
Address: 8920 Holly Ave NE, Albuquerque, NM 87122
Phone: +1 (505) 293-0500
Category: Financial institution
TBK Bank
User Raiting:
3.80
Address: 7401 Jefferson St NE, Albuquerque, NM 87109
Phone: +1 (505) 244-8000
Category: Financial institution
Checkmate
User Raiting:
3.80
Address: 1145 San Mateo Blvd SE, Albuquerque, NM 87108
Phone: +1 (505) 262-4914
Category: Loan agency
Enterprise Bank & Trust
User Raiting:
3.80
Address: 7445 Pan American Fwy NE, Albuquerque, NM 87109
Phone: +1 (505) 662-5171
Category: Bank
Kirtland Federal Credit Union
User Raiting:
3.70
Address: 8900 Montgomery Blvd NE, Albuquerque, NM 87111
Phone: +1 (505) 254-4369
Category: Credit union
Title Cash
User Raiting:
3.70
Address: 2900 Eubank Blvd NE, Albuquerque, NM 87112
Phone: +1 (505) 275-7745
Category: Loan agency
WaFd Bank
User Raiting:
3.70
Address: 4400 Osuna Rd NE, Albuquerque, NM 87109
Phone: +1 (505) 341-7300
Category: Bank
U.S. Eagle Federal Credit Union
User Raiting:
3.70
Address: 4411 Irving Blvd NW, Albuquerque, NM 87114
Phone: +1 (505) 342-8888
Category: Credit union
View More

What Are the Alternatives for Short-term Loans in Albuquerque?

Explore affordable, sustainable alternatives to payday loans that empower you financially, offering lower interest rates, flexible terms, and support to help break the cycle of debt.

Quick Installment loans

Quick installment loans are borrowed funds repaid over time through scheduled payments. They offer borrowers a longer period compared to payday loans, often resulting in lower monthly payments.

Instant Cash Loans

Instant cash loans provide immediate access to funds for urgent needs. Typically smaller in amount, they are often repaid quickly through a single payment.

Online Title loans

Online title loans use a borrower's vehicle title as collateral. They provide quick cash but pose high-risk, especially if repayment demands aren't met, risking vehicle repossession.

Fast Emergency loan

Fast emergency loans offer immediate financial support during unexpected situations. They're designed for urgent needs, but interest rates can be high due to the quick availability of funds.

Payday loans Online

Payday loans online offer small, short-term financial solutions intended to cover expenses until the borrower’s next paycheck, often featuring high-interest rates and quick repayment periods.

No credit check P2P loans

No credit check P2P loans connect borrowers directly with individual lenders. These loans can bypass credit evaluations, offering possibilities to those with less-than-ideal credit scores.

Guaranteed Debt Consolidation loans

Guaranteed debt consolidation loans merge multiple debts into a single monthly payment. They're aimed at simplifying debt repayment and reducing financial stress by potentially lowering interest rates.

Bad credit loans Fast

Bad credit loans fast cater to individuals with low credit scores, providing quick access to funds. While accessible, these loans often come with higher interest rates to offset lender risk.

How to Use Personal Loans - Useful Resources

Explore essential resources on effectively using personal loans. Learn responsible borrowing practices, understand terms, and access tools to manage finances while ensuring financial well-being for a secure future.

Industry
Address
Phone
Car Wash
Address: 111 Wyoming Boulevard Southeast, Albuquerque, NM 87123
Phone: +1 (505) 346-1242
Clothing Shop
Address: 2260 Q Street Northeast, Albuquerque, NM 87110
Phone: +1 (505) 600-2428
Club & Association
Address: 500 Mountain Road Northwest, Albuquerque, NM 87102
Phone: +1 (505) 867-5309
College/University
Address: 4575 San Mateo Boulevard Northeast, Albuquerque, NM 87109
Phone: +1 (505) 508-5225
Community Center
Address: 6900 Gonzales Road Southwest, Albuquerque, NM 87121
Phone: +1 (505) 836-8760
Dentist
Address: 2444 Juan Tabo Boulevard Northeast, Albuquerque, NM 87112
Phone: +1 (505) 294-8896
Fitness Club & Center
Address: 2800 San Mateo Boulevard Northeast, Albuquerque, NM 87110
Phone: +1 (505) 821-9881
Government Office
Address: 2200 Sunport Boulevard Southeast, Albuquerque, NM 87106
Phone: +1 (505) 768-5650
Hospital for Women and Children
Address: 5400 Gibson Boulevard Southeast, Albuquerque, NM 87108
Phone: +1 (505) 842-5550
Hotel
Address: 618 Rio Grande Boulevard Northwest, Albuquerque, NM 87104
Phone: +1 (505) 224-9177
Library
Address: 6900 Airport Drive Southwest, Albuquerque, NM 87121
Phone: +1 (505) 836-0684
Motorcycle Repair
Address: 5000 Alameda Boulevard Northeast, Albuquerque, NM 87113
Phone: +1 (505) 856-1600
Movie Theater
Address: 2700 Vista Grande Drive Northwest, Albuquerque, NM 87120
Phone: +1 (505) 341-9590
Museum
Address: 328B San Felipe Street Northwest, Albuquerque, NM 87104
-
Pharmacy
Address: 1501 San Pedro Drive Northeast, Albuquerque, NM 87110
Phone: +1 (505) 846-3131

How to Get to Albuquerque

Complaints about Short-Term Loans in New Mexico

Issue Type
Amount of Complaints
Charged fees or interest you didn't expect
55
Struggling to pay your loan
26
Charged fees or interest I didn't expect
17
Problem when making payments
16
Incorrect information on your report
14
Problem with the payoff process at the end of the loan
13
Improper use of your report
13
Getting the loan
12
Problem with additional add-on products or services
11
Can't contact lender
10
The data is taken from consumer complaint database created by Consumer Financial Protection Bureau

Submit a Complaint for a Short-term lender in Albuquerque

If you need to submit a complaint against a payday lender in New Mexico, the primary regulatory body is the New Mexico Regulation and Licensing Department's Financial Institutions Division. They ensure compliance with state laws governing payday loans. You can reach them at:

  • New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, Santa Fe, NM 87505
  • (505) 476-4885
Submit a Complaint

Frequently Asked Questions about Short-term Loans

Are Payday Loans Legal in New Mexico?

Yes, payday loans are legal in New Mexico, but they are subject to regulations to protect consumers. The New Mexico Financial Institutions Division oversees and enforces these regulations to ensure fair lending practices.

Can Payday Loan Debt Be Forgiven?

Payday loan debt can be challenging to manage, and complete forgiveness is not common. However, borrowers facing difficulties can explore options like debt consolidation or repayment plans to make the process more manageable. Communication with the lender is essential if you're struggling to repay the loan.

Can You Get a Payday Loan Without a Bank Account?

In most cases, obtaining a payday loan in New Mexico requires having a bank account. Lenders typically use bank accounts for loan disbursement and repayment. While some alternative financial services may offer payday-like loans without a bank account, they often come with higher fees and risks.

Are Payday Loans Fixed or Variable?

Payday loans in New Mexico typically involve fixed fees, meaning the cost of borrowing remains consistent throughout the loan term. However, the annual percentage rate (APR) can vary depending on the loan amount and term. It's crucial to review the loan terms and understand the total cost before borrowing.

Is a Payday Loan Secured or Unsecured?

Payday loans in New Mexico are unsecured loans, meaning they do not require collateral. Approval for a payday loan is primarily based on the borrower's income and employment status. Unlike secured loans, such as auto title loans, payday loans do not put assets at risk.

How Long Do Payday Loans Stay in the System?

Information about payday loans can remain in the financial system for several years. Late payments or defaults on payday loans may be reported to credit bureaus, impacting your credit score and making it more challenging to secure new loans in the future. Timely repayment is crucial to avoid long-term consequences.

New Mexico Personal Loans Near Me

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