Residents of Nebraska are free to take out a payday loan or cash advance. You are limited to two loans at one time with a maximum loan amount of $500.00. Take a look at the laws and regulations for the state of Nebraska below. If you are looking for a payday loan for Nebraska residents, start with our easy online application. As of March 2013, there have been no further legislative mandates governing the cash advance / payday loan industry. The following are specific regulations and laws which protect payday loan / cash advance consumers in the state of Nebraska: Maximum Payday Loan Term: 31 days Maximum Finance Charges and Fees: Interest cannot exceed $15 per $100 borrowed, plus $17.65 finance charge on $100 Maximum Loan Amount: $500 Number of Rollovers: None Outstanding Loans Allowed at Once: Two Cool-Off Period: N/A Payment Plan: N/A Collection Fees: $15.00 NSF Fee Presentment Limit: One Private Right of Action: Civil Military Protection: N/A Penalties: All loan costs, including late fees as well as arbitration and attorney fees For more information refer to these sites: Nebraska Statute Ann. § 45-901 Nebraska Department of Banking & Finance Financial Institutions 1230 O Street, Suite 400 P.O. Box 95006 Lincoln, NE 68509 Phone: (402) 471-2171 Recent legislation: L.B. 279 – Signed by the Governor on March 7, 2013 – changed the provision that relate to loan brokers, delayed deposit services and installment loans.
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