Payday Loans or “Quick Cash” loans come in real handy when you are short on cash. Today you can go to brick and mortar business for a payday loan or cash advance loan and you can even get online payday loans. The interest rates are a little healthy, but the speed and convenience of getting the cash quick to cover an unexpected expense overrides the costs.
These are the rules, laws and regulations of payday loans in Nebraska.
Nebraska Payday Loan Laws
Nebraska Legislation State Information
Payday Loan Legal Status:Nebraska Legal
Citation:Nebraska
Neb. Stat. Ann. § 45-901
Nebraska Payday Loan Terms:Nebraska
Maximum Payday Loan Amount: $500
Payday Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15 per $100 or pro rata for any part thereof on amount of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%
NebraskaDebt Limits:Nebraska
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None – You can not repay, refinance, or consolidate the loans
Cooling-off Period:
Repayment Plan:
Nebraska Payday loan Collection Limits:Nebraska
Payday loan Collection Fees: $15 NSF fee
Criminal Action:
Nebraska
Regulator:
Nebraska Department of Banking & Finance
Address: Financial Institutions
1230 ‘O’ Street, Suite 400
P.O. Box 95006
Lincoln NE 68509
Phone: (402) 471-2171
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