New Mexico Statutes 57-32-7. Receipts for payments
A. Within thirty business days of receipt of a payment on a medical debt, the health care facility, third-party health care provider, medical creditor, medical debt collector or their agents receiving the payment shall send a receipt to the person who made the payment. The receipt may take the form of a billing statement. All receipts shall show:
Terms Used In New Mexico Statutes 57-32-7
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
(1) the amount paid;
(2) the date payment was received;
(3) the new balance after application of the payment;
(4) the interest rate and interest accrued since the consumer’s last payment; (5) the consumer’s account number;
(6) the name of the current owner of the debt and, if different, the name of the medical creditor; and
(7) whether the payment is accepted as payment in full of the debt.
B. All health care facilities, third-party health care providers, medical creditors and medical debt collectors shall apply payments as of the date payment was received or, if received after business hours, the next business day, and use that date when assessing penalties or interest accumulation.