Nebraska Credit Laws
| INTEREST RATE | (Legal: 12%) |
12% per written instrument or contract rate - Judgment 2% above the bond investment yield of the 28 week U.S. Treasury Bill |
| STATUTE OF LIMITATIONS | (In Years) |
Open Acct: 4 - Written Contract 5 - Domestic Judgment 5 renewable every 5 - Foreign Judgment 5 non-renewable |
| BAD CHECK LAWS | (Civil Penalty) | Amount due, costs, protest fees |
| GENERAL GARNISHMENT EXEMPTIONS | Greater of 75% disposable earnings (85% if head of household), or 30x fed. Minimum hourly wage. | |
| HOMESTEAD EXEMPTION | The homestead exemption limit in Nebraska is $12,500. The property may not exceed a two lots in a city or town,or 160 acres elsewhere. | |
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ADDING FEES TO DEBT |
In connection with the collection of any loan, a licensee may not charge or collect any fees, charges, or expenses incidental to the collection of any loan, unless such amount is expressly authorized by the loan agreement or permitted by law. For purposes of Nebraska Statute section 45-623, debt shall include all delinquent fees or payments except delinquent property taxes on real estate. In the case of debt arising as a result of an order or judgment of a court in a criminal or traffic matter, a collection fee may be added to the debt. The collection fee shall be twenty-five dollars or four and one-half percent of the debt, whichever is greater. The collection fee shall be paid by the person who owes the debt directly to the person or agency providing the collection service. |