✓ Surplus Refund Tracking • ✓ 10% or $7.50 First Month • ✓ 90-Day Hold Period
Stop paying monthly fees. New Mexico pawnbrokers using PPSS paid $695-$995 once for a lifetime license. Three years later? Still $695-$995 total. No monthly subscriptions, no annual price increases, no surprise renewal fees.
Handles New Mexico's surplus refund tracking, 10% or $7.50 first month charges, 4% monthly rates, 90-day hold periods, and $2,000 loan cap. (Click the Purple Video Button above for a software overview.)
Typical subscription: $300/month = $10,800 over 3 years.
PPSS: $895 once + $590 updates = $1,485 over 3 years.
Savings: $9,315 in three years. Over five years? $16,515.
Updates: $295/year or $737 once.
New Mexico law (§56-12-11) requires pawnbrokers to refund surplus proceeds when forfeited property sells for more than the loan amount. If a customer defaults on a $100 loan and the pawnbroker sells the item for $150, the pawnbroker must notify the customer of the $50 surplus and track whether it's claimed within 90 days (if under $100) or 12 months (if over $100).
Pawnbroker Pawn Shop Software (PPSS) New Mexico Edition tracks surplus amounts, mailing dates, claim deadlines, and maintains records required under §56-12-12 for disposition of pledged property.
Surplus Refund Requirement (§56-12-11)
When forfeited property sells for more than the loan amount, New Mexico requires pawnbrokers to: (1) Record the surplus amount, (2) Notify pledgor by first-class mail, (3) Track 90-day claim period (surplus under $100) or 12-month claim period (surplus over $100), (4) Post unclaimed notices on premises if mail returns. This is unique—most states allow pawnbrokers to keep all sale proceeds.
10% or $7.50 First Month Charge (§56-12-13)
New Mexico's first-month charge is $7.50 or 10% of the loan amount, whichever is greater. $50 loan = $7.50 (greater than 10% = $5). $100 loan = $10.00 (10%). This charge applies only during the first 30 days and cannot be charged when refinancing an existing loan.
90-Day Hold Period After Default (§56-12-11)
New Mexico pawnbrokers cannot dispose of pledged property until at least 90 days after default. Longer than most states—Tennessee (0 days), Missouri (60 days), Indiana (60 days). This 90-day waiting period protects customers who may need additional time to redeem.
New Mexico pawnbrokers using PPSS paid once for a lifetime license. Whether you're in Albuquerque, Santa Fe, Las Cruces, or Roswell, the same software handles your surplus tracking and compliance requirements.
Lifetime license: $695-$995. Software updates: $295/year or $737 lifetime. No monthly subscription fees.
Wing Pawn, Belen, NM
"We bought PPSS three years ago for $895. Subscription software was running us $300/month = $10,800 over three years. With PPSS, we paid $895 once + $590 for two years of updates = $1,485 total. Saved $9,315. New Mexico's surplus refund requirement is unique - when we sell forfeited property for more than the loan amount, we have to track the surplus, notify the customer, hold it for 90 days or 12 months depending on amount, and refund if they claim it. PPSS handles all of this automatically. Tracks the surplus amount, calculates the claim period (90 days under $100, 12 months over $100), flags when notices need to go out, and maintains the complete audit trail. Without this software, we'd be drowning in paperwork. Best investment we made."
Larry's Pawn and Music, Deming, NM
"PPSS has been running in our shop for five years now. Paid $895 once. That's it for the software license. Competitors pay $275-$325/month for subscriptions. Over five years, that's $16,500-$19,500. We paid $895 + $1,180 for four years of updates = $2,075. We saved between $14,425 and $17,425. The surplus refund tracking alone is worth the price. New Mexico requires us to refund excess proceeds when items sell for more than the loan - PPSS calculates this automatically, tracks the 90-day or 12-month claim periods, generates the notices, and keeps everything documented for three years. The 7.5% first-month charge and 4% monthly rate calculations are built in. For a small shop in Deming, PPSS lets us compete with the big operations in Albuquerque."
From Las Cruces to Farmington, New Mexico pawnbrokers rely on PPSS to handle the state's unique surplus refund requirements.
Scenario: Customer defaults on $100 loan. Pawnbroker sells item for $150.
PPSS Tracking: Automatic surplus calculation, claim deadline tracking (90-day vs. 12-month based on amount), mail notification logging, unclaimed surplus reporting.
New Mexico distinguishes between first-month charges and subsequent charges:
| Loan Amount | First 30 Days (10% or $7.50, greater) |
After 30 Days (4% per month) |
|---|---|---|
| $50 | $7.50 | $2.00/month |
| $100 | $10.00 | $4.00/month |
| $200 | $20.00 | $8.00/month |
| $500 | $50.00 | $20.00/month |
PPSS calculates first-month charges automatically (comparing 10% vs. $7.50), then switches to 4% monthly rate for subsequent periods.
New Mexico requires a 90-day waiting period after default before disposing of pledged property (§56-12-11C):
PPSS calculates the 90-day period from default date and flags items eligible for disposition.
New Mexico prohibits pawn transactions where the unpaid principal balance exceeds $2,000 (§56-12-14I). PPSS tracks loan amounts and allows pawnbrokers to monitor compliance with the $2,000 cap.
New Mexico pawnbrokers obtain pawnbroker permits from local government under the Pawnbroking Act (§56-12-1 et seq.).
Key State Requirements:
PPSS provides: Surplus refund tracking, claim deadline monitoring (90-day vs. 12-month), first-month vs. subsequent charge calculations, 90-day hold period tracking, $2,000 loan cap enforcement, complete disposition records.
Basic License: $695
Professional License: $895
Multi-Station: $995
Software Updates (Year 2+):
