S_NM PASS-02 — bounded correction to original PASS-01
Actual model/mode: GPT-5.6 Sol Pro, Regular Chat, as the current owner-authorized quality-first fallback.
Actual public-source access date: October 24, 2026, Pacific time.
PASS-01 remains immutable except for the exact replacement cells below. No provider/fee overview, currentness chain, case search, contract analysis, failed OneSource route, CROA route history, or other state category was rerun.
1. Loan-arranger/lender exclusion replacements
1.1 Replace the affected model-classification row
| Business model |
New Mexico result |
Replacement reason and qualification |
Claims |
| Consolidation lender arranging or making a loan and acting as an adjuster in disbursing the proceeds |
Conditionally excluded |
The person must: (1) arrange for or make the loan at the debtor’s request; (2) act, at the debtor’s authorization, as an adjuster of the debtor’s debts in disbursing the loan proceeds; and (3) receive no compensation for the services rendered in adjusting those debts. Separate lending authority, interest, origination charges, and other loan charges remain undecided. This exclusion does not create a debt-adjuster license. |
S_NM-P2-C001; existing C026 |
Section 56-2-4 separately states the debtor-request and debtor-authorization predicates; the latter was omitted from the original row. The source remains a 2025 secondary codification mirror whose own disclaimer directs users to official sources. Justia Law
1.2 Replace the affected exact-exemption row
| Excluded category |
Exact statutory conditions |
Replacement failure cases |
| Loan arranger/lender |
At the debtor’s request, the person arranges for or makes a loan to the debtor; at the debtor’s authorization, the person acts as an adjuster of the debtor’s debts in disbursing the loan proceeds; and the person takes no compensation for the services rendered in adjusting those debts. |
The exclusion is not established if the loan was not requested by the debtor; the provider lacks debtor authorization to act as adjuster in the disbursement; no qualifying loan was arranged or made; the activity is settlement unconnected to disbursement of loan proceeds; or compensation is taken for the debt-adjustment services. Separate lending charges remain outside this correction. |
1.3 Replace the affected fee-treatment cell
| Category |
Replacement New Mexico Debt Adjusters Act result |
| Consolidation lender/loan arranger |
To remain within this exclusion, the person may take no compensation for debt-adjustment services and must also satisfy the debtor-requested-loan and debtor-authorized-adjustment-in-disbursement predicates. PASS-02 does not decide whether any interest, origination fee, or other lending charge is lawful under separate lending law. |
1.4 Replace the affected coverage-table row
| Topic |
Status after PASS-02 |
Claims |
Exact remaining evidence or next investigation |
| Loan-arranger/lender exclusion |
Answered textually—corrected |
S_NM-P2-C001; existing C026 |
For any claimed exclusion, verify the debtor’s request for the loan, the debtor’s authorization for the person to act as adjuster in disbursing the proceeds, the actual arrangement or making of the loan, the actual use of proceeds in the adjustment process, and the absence of compensation for adjustment services. Separately investigate lending authority, interest, origination charges, disclosures, and other loan-law requirements. |
1.5 Replace original claim C016
| Original claim ID |
Replacement precise assertion |
Replacement authority and pinpoint |
Conditions and limits |
| S_NM-P1-C016 |
The loan-arranger/lender exclusion requires: a loan arranged for or made at the debtor’s request; debtor authorization for the person to act as adjuster of the debtor’s debts in disbursing the loan proceeds; and no compensation for the services rendered in adjusting those debts. |
S_NM-P2-S001, §56-2-4, complete exclusion sentence at displayed line 57. Justia Law |
High confidence as to the displayed statutory wording. The source is a secondary mirror, not the inaccessible current official OneSource text. The exclusion supplies no ordinary debt-adjuster licensing path and does not decide separate lending charges. |
2. Court and legislative-index pinpoint replacements
2.1 Replace original source S011
| Original source ID |
Replacement source entry |
| S_NM-P1-S011 |
Hendricks v. Alum Financial, LLC, No. 1:21-cv-00798-MV-JFR, Document 59, Memorandum Opinion and Order, U.S. District Court for the District of New Mexico, filed September 12, 2024. Direct URL: https://www.govinfo.gov/content/pkg/USCOURTS-nmd-1_21-cv-00798/pdf/USCOURTS-nmd-1_21-cv-00798-0.pdf. Normalized pinpoints: printed/one-based PDF page 4 equals zero-based page index 3 and contains the no-private-right statement plus the Rule 12(b)(6) pleading standard; printed/one-based PDF pages 7–8 equal zero-based indices 6–7 and contain the offered-intermediary/payment-role analysis; printed/one-based PDF page 12 equals zero-based index 11 and orders dismissal of the complaint as to Debt Pay Pro. Federal district-court pleading decision only; it is not controlling New Mexico appellate authority, not a new citator result, and not a merits ruling establishing Alum’s ultimate liability. GovInfo+3 |
2.2 Replace original claim C008
| Original claim ID |
Replacement precise assertion |
Replacement pinpoint |
Conditions and limits |
| S_NM-P1-C008 |
At the pleading stage, alleged representations that the provider was the intermediary through which the consumer had to work and would receive the consumer’s payments were sufficient to support an inference that the provider offered to act as an intermediary, even though the complaint also alleged that the money actually went to the provider’s own fees rather than to the loans. |
S_NM-P2-S002, printed PDF pages 7–8; zero-based indices 6–7. GovInfo+1 |
This is a Rule 12(b)(6) sufficiency ruling based on pleaded allegations. It does not establish that actual receipt is irrelevant in every model, resolve a genuinely noncustodial provider, or constitute a merits ruling. |
2.3 Replace original claim C038
| Original claim ID |
Replacement precise assertion |
Replacement pinpoint |
Conditions and limits |
| S_NM-P1-C038 |
The court stated that the Debt Adjusters Act contains no statutory provision allowing a private right of action against a person who acts or offers to act as a debt adjuster. |
S_NM-P2-S002, printed PDF page 4; zero-based index 3. GovInfo+1 |
Limited to a private action directly under the Debt Adjusters Act. Other claims or remedies were not resolved by that sentence. The order ultimately dismissed the claims as to Debt Pay Pro on printed page 12; it was not a merits ruling against Alum. GovInfo |
2.4 Replace original source S008
2.5 Replace the source/pinpoint portion of original claim C021
| Original claim ID |
Replacement source and pinpoint cell |
Currentness/limit cell |
| S_NM-P1-C021 |
S_NM-P2-S003, printed pages 87 and 324; corresponding one-based PDF pages 91 and 328; corresponding zero-based indices 90 and 327. Each identifies SB 432 as failed. New Mexico Legislature+1 |
High confidence for the bill’s failed status on the two pages actually inspected. This correction normalizes pagination only and does not imply that the complete 467-page index was reviewed. The original conclusion that SB 432’s proposed registration, bond, fee, adjustment, and replacement-statute provisions never became operative remains unchanged. |
3. Replace E10’s result and New Mexico boundary
E10 — replacement text only
Conditional federal result
The stated $2,200.00 return is conditional on all of the following:
- The account satisfies the dedicated-account conditions in §310.4(a)(5)(ii)(A)–(D).
- The customer withdraws from the debt-relief service.
- The excluded $800.00 is genuinely “earned” in compliance with all of §310.4(a)(5)(i)(A)–(C), meaning:at least one debt was altered pursuant to a settlement agreement, debt-management plan, or other valid contractual agreement executed by the customer;the customer made at least one payment pursuant to that agreement between the customer and the creditor or debt collector; andthe fee satisfies the applicable consistent proportional-allocation or constant savings-percentage requirement.
Section 310.4(a)(5)(ii)(E) allows the account to exclude only fees earned in compliance with all three subparagraphs. eCFR+1
New Mexico boundary
The $2,200.00 figure is conditional federal arithmetic, not a guaranteed New Mexico refund amount. It does not establish permission to retain $800.00 for conduct prohibited by New Mexico law. The unresolved New Mexico classification issues and any other-law refund, restitution, contract, or remedial questions remain open. No additional New Mexico refund amount is supplied.
4. Federal wording replacements
4.1 Replace original claim C028
| Original claim ID |
Replacement precise assertion |
Authority and pinpoint |
Conditions and limits |
| S_NM-P1-C028 |
Where the TSR applies, a debt-relief fee may not be requested or received until: (A) the seller or telemarketer has altered at least one debt pursuant to a settlement agreement, debt-management plan, or other valid contractual agreement executed by the customer; and (B) the customer has made at least one payment pursuant to that agreement between the customer and the creditor or debt collector. |
S_NM-P2-S004, 16 C.F.R. §310.4(a)(5)(i)(A)–(B). eCFR |
Subparagraph (A) does not state a universal, additional creditor-countersignature requirement. This correction does not decide whether a valid agreement exists under applicable contract law or alter the separate allocation requirement in subparagraph (C). |
4.2 Replace the credit-improvement paragraph in Section 4.5
Where §310.4(a)(2) conditionally applies to goods or services represented to remove derogatory information or improve a person’s credit history, record, or rating, payment may not be requested or received until both:
- the timeframe in which the seller represented that all goods or services would be provided has expired; and
- the seller has supplied a consumer report demonstrating that the promised results were achieved, with that report issued more than six months after the results were achieved.
The represented service-completion date does not itself start the six-month achieved-results interval. Conditional applicability remains dependent on the actual representation and service; no universal credit-repair classification is made. eCFR+1
4.3 Replace original claim C033
| Original claim ID |
Replacement precise assertion |
Authority and pinpoint |
Conditions and limits |
| S_NM-P1-C033 |
TSR credit-improvement fee timing, where applicable, requires both expiration of the represented timeframe for providing all goods or services and a consumer report demonstrating that the promised results were achieved, issued more than six months after the results were achieved. |
S_NM-P2-S004, 16 C.F.R. §310.4(a)(2)(i)–(ii). eCFR+1 |
A promised-result or service-completion date alone does not begin the six-month achieved-results interval. No universal application to debt-relief services is assumed. |
5. PASS-02 source register
| Source ID |
Title / issuer |
Complete literal URL |
Exact pinpoint and version/status |
Actual-read status and limits |
| S_NM-P2-S001 |
NMSA 1978 §56-2-4, Exemptions / 2025 Justia codification mirror |
https://law.justia.com/codes/new-mexico/chapter-56/article-2/section-56-2-4/ |
Displayed statutory text at line 57; history at line 58; source disclaimer at line 62. |
Actually opened and read in PASS-02 on Oct. 24, 2026 PT. Secondary mirror only. It expressly warns that New Mexico may have more current or accurate information. The inaccessible official-current-code limitation remains unchanged. Justia Law |
| S_NM-P2-S002 |
Hendricks v. Alum Financial, LLC, Document 59 / U.S. District Court, District of New Mexico, GovInfo |
https://www.govinfo.gov/content/pkg/USCOURTS-nmd-1_21-cv-00798/pdf/USCOURTS-nmd-1_21-cv-00798-0.pdf |
Filed Sept. 12, 2024. Printed pages 4, 7–8, and 12; one-based PDF pages 4, 7–8, and 12; zero-based indices 3, 6–7, and 11. |
Actually opened, text-read, and visually inspected in PASS-02. No new case search, citator work, docket investigation, or merits conclusion. GovInfo+3 |
| S_NM-P2-S003 |
2013 Index to Bills, Memorials, Resolutions and Substitutes / New Mexico Legislative Council Service |
https://www.nmlegis.gov/Publications/session/13/2013%20index%20to%20bills,%20memorials,%20resolutions%20and%20substitutes.pdf |
One-based PDF page 91 / printed 87 / zero index 90; one-based PDF page 328 / printed 324 / zero index 327. Both say SB 432 failed. |
The two specified pages were actually opened and visually inspected in PASS-02. No claim of reviewing the entire 467-page index. New Mexico Legislature+1 |
| S_NM-P2-S004 |
16 C.F.R. §310.4, Abusive telemarketing acts or practices / eCFR |
https://www.ecfr.gov/current/title-16/chapter-I/subchapter-C/part-310/section-310.4 |
§310.4(a)(2)(i)–(ii), displayed lines 106–109; §310.4(a)(5)(i)(A)–(C) and (ii)(A)–(E), displayed lines 115–131. eCFR displayed Title 16 as up to date through Oct. 22, 2026 and last amended Oct. 19, 2026; eCFR is authoritative but unofficial. |
Actually opened and read in PASS-02 on Oct. 24, 2026 PT. No broader TSR research was performed. eCFR+1 |
6. PASS-02 corrective claim register
| Corrective claim ID |
Precise corrective assertion |
Source and pinpoint |
Conditions and limits |
| S_NM-P2-C001 |
The §56-2-4 loan-arranger/lender exclusion expressly requires both a debtor-requested loan and debtor authorization for the person to act as adjuster in disbursing the proceeds, plus no compensation for the adjustment services. |
S_NM-P2-S001, displayed line 57. Justia Law |
Secondary-mirror/current-official-code limitation preserved; no debt-adjuster licensing path or ruling on separate lending charges. |
| S_NM-P2-C002 |
The offered-intermediary analysis in Hendricks is located on printed PDF pages 7–8, not pages 6–7 when ordinary one-based PDF pagination is used. |
S_NM-P2-S002, printed pp. 7–8; zero indices 6–7. GovInfo+1 |
Pleading-stage analysis only; no universal noncustodial rule. |
| S_NM-P2-C003 |
The no-private-right statement and pleading standard appear on printed PDF page 4; the result dismissing the claims as to Debt Pay Pro appears on printed page 12. |
S_NM-P2-S002, printed pp. 4 and 12. GovInfo+1 |
No new case review or merits ruling is inferred. |
| S_NM-P2-C004 |
The official 2013 index identifies SB 432 as failed on printed pages 87 and 324, corresponding to one-based PDF pages 91 and 328 and zero-based indices 90 and 327. |
S_NM-P2-S003. New Mexico Legislature+1 |
Exact-page check only; no complete-index-review claim. |
| S_NM-P2-C005 |
Under §310.4(a)(5)(ii)(E), an amount may be withheld from a dedicated-account return as an earned fee only if it was earned in compliance with all of §310.4(a)(5)(i)(A)–(C). |
S_NM-P2-S004, §310.4(a)(5)(i)(A)–(C), (ii)(E). eCFR+1 |
The E10 $2,200 figure remains conditional arithmetic, not a New Mexico refund determination or state authorization. |
| S_NM-P2-C006 |
Section 310.4(a)(5)(i)(A) speaks of a valid contractual agreement executed by the customer, while subparagraph (B) requires a qualifying customer payment under the agreement between the customer and creditor or debt collector. |
S_NM-P2-S004, §310.4(a)(5)(i)(A)–(B). eCFR |
No universal separate creditor-countersignature requirement is added; contract validity remains fact- and law-dependent. |
| S_NM-P2-C007 |
Under §310.4(a)(2), the six-month interval is measured from when the promised results were achieved, not merely from the represented service deadline. |
S_NM-P2-S004, §310.4(a)(2)(i)–(ii). eCFR+1 |
Conditional credit-improvement coverage only; no universal credit-repair classification. |
7. Coverage patch
| Corrected item |
PASS-02 disposition |
Corrective claims |
Remaining hold |
| Loan-arranger/lender exclusion predicate |
Corrected |
S_NM-P2-C001 |
Entity-specific proof, lending authority, and separate lending charges remain open. |
| Hendricks intermediary/private-action/result pinpoints |
Corrected |
S_NM-P2-C002, C003 |
No broader case, citator, docket, or merits research performed. |
| 2013 SB 432 index pagination |
Corrected |
S_NM-P2-C004 |
Original failed-bill conclusion unchanged; no whole-index-review claim. |
| E10 $800 earned-fee deduction |
Corrected and expressly conditional |
S_NM-P2-C005 |
New Mexico classification and other-law refund/remedy questions remain unresolved. |
| TSR agreement and payment wording |
Corrected |
S_NM-P2-C006 |
No universal creditor-countersignature rule; contract validity remains outside this correction. |
| TSR credit-improvement timing |
Corrected |
S_NM-P2-C007 |
Conditional applicability and no-universal-credit-repair hold preserved. |
Bounded researcher self-check
Actually read in PASS-02: the displayed §56-2-4 mirror text and disclaimer; GovInfo Document 59’s printed pages 4, 7, 8, and 12; the official 2013 index’s printed pages 87 and 324; and the exact §310.4(a)(2) and §310.4(a)(5) eCFR passages.
Not rerun or newly established: the official current §§56-2-1–4 OneSource text, full currentness chain, 1965 session law, complete 2013 index, broader case law or citator history, contracts, remote/noncustodial legality, individual-business-debt coverage, nonprofit/entity qualification, institutional exclusions, funds architecture, CROA source history, broader remedies, sectors, local or tribal law, or any named-provider authorization.
This is a bounded correction, not an independent review, full-component acceptance, full-state acceptance, A066 acceptance, parent-work acceptance, or publication-readiness determination. No local-file or publication action occurred.
END S_NM PASS-02.