Nebraska Payday Loan Laws Details
The data provided here is for general informational purposes and should not be used as legal reference. If you have questions regarding Nebraska payday loan laws contact the Nebraska Department of Banking & Finance.
Payday loans are legal in Nebraska (see Nebraska Payday Loans or Nebraska Installment Loans to compare fees and requirements for individual lenders).
| Feature | Specification |
|---|---|
| Amount (max) | $500 |
| Rates or Fees (max) | $15 per $100 or pro rata for any part thereof on amount of check |
| Term Limitations | Max: 34 days |
In Nebraska, no rollovers are permitted (cannot repay, refinance, consolidate). Nothing is mentioned about cooling periods between loans. Nebraska has no requirements for extended repayment plans.
For example, in Nebraska the rates and fees on a 14 day, $100 loan are:
| Terms | Amount |
|---|---|
| Loan Amount | $100 |
| Fees | $17.65 |
| APR | 459% |
Nebraska also defines regulations around collections. If available, the table below lists the fees lenders are permitted to charge if the loan is not repaid and/or whether a lender can threaten use of or use criminal action if a borrower is unable to repay a loan.
| Feature | Specification |
|---|---|
| Collection Fees | $15 NSF fee |
No licensee shall charge as a fee a total amount in excess of $15 per $100 or pro rata for any part thereof on the face amount of a check for services provided by licensee.