Nebraska Payday Loan Laws and Regulations

Find out if short-term Payday Loans are legal in Nebraska and what amounts, interest rates and repayment terms are set by the state's Legislation.

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title loans Rates and Terms

State Legal Status Maximum Loan Amount Minimum Loan Amount Maximum Loan Term Minimum Loan Term Repayment Term Maximum APR Minimum APR Average APR Finance Charges Cooling-off Period
Alabama Legal N/A N/A 31 day(s) 10 day(s) 10 - 31 days 25.00% N/A N/A 25% a month N/A
Alaska Illegal $500 N/A N/A 14 day(s) N/A 36.00% N/A N/A $5 + the lesser of: $15 per $100 or 15%. N/A
Arizona Legal N/A N/A N/A N/A N/A 17.00% 10.00% N/A 17% a month for $500 or less, 15% a month for $501-$2,500, 13% a month for $2,501-$5,000, and 10% a month for more than $5,000 N/A
Arkansas Illegal $400 N/A 31 day(s) 6 day(s) 6 - 31 days 17.00% N/A N/A N/A N/A
California Legal N/A $2500 31 day(s) N/A up to 31 days 30.00% 15.00% N/A For a $2,500 Title Loan either $50 or up to 5% of that amount. N/A
Colorado Illegal $500 N/A N/A 180 day(s) N/A N/A N/A N/A N/A N/A
Connecticut Illegal N/A N/A N/A N/A N/A N/A N/A N/A $17 per $100 N/A
Delaware Legal N/A N/A 180 day(s) N/A N/A N/A N/A 300.00% For $1,000 title loan there will be an additional $250 per month in interest. N/A
Florida Illegal $500 N/A 31 day(s) 7 day(s) 7 - 31 days N/A N/A N/A 30% of the loan amount a month. N/A
Georgia Legal N/A N/A 30 day(s) N/A N/A N/A N/A N/A 25% a month for the first three months, 12.5% after that plus lien fee. N/A
Hawaii Illegal $600 N/A 32 day(s) N/A up to 32 days N/A N/A N/A 14% pre-computed or 24% a month N/A
Idaho Legal N/A N/A 30 day(s) N/A up to 30 days N/A N/A N/A N/A N/A
Illinois Legal $4000 N/A N/A N/A N/A N/A N/A 25.00% N/A 15 days
Indiana Illegal $500 N/A 14 day(s) N/A up to 14 days 36.00% N/A N/A N/A N/A
Iowa Illegal $500 N/A 31 day(s) N/A up to 31 days 21.00% N/A N/A N/A N/A
Kansas Illegal N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Kentucky Illegal $500 N/A 60 day(s) 14 day(s) 14 - 60 days 24.00% N/A N/A N/A N/A
Louisiana Legal N/A $350 N/A N/A N/A 36.00% N/A N/A N/A N/A
Maine Illegal N/A N/A N/A N/A N/A 0.30% N/A N/A N/A N/A
Maryland Illegal N/A N/A N/A N/A N/A N/A N/A 300.00% N/A N/A
Massachusetts Illegal N/A N/A N/A N/A N/A N/A 276.00% N/A N/A N/A
Michigan Illegal $600 N/A 31 day(s) N/A up to 31 days 300.00% N/A N/A N/A N/A
Minnesota Available (with some restrictions) $350 N/A 30 day(s) N/A up to 30 days 396.00% N/A N/A N/A N/A
Mississippi Legal $2500 N/A 30 day(s) N/A up to 30 days 300.00% N/A N/A N/A N/A
Missouri Legal $5000 N/A N/A 30 day(s) N/A N/A N/A N/A N/A N/A
Montana Available (with some restrictions) $300 N/A 31 day(s) N/A up to 31 days N/A N/A N/A N/A N/A
Nebraska Available (with some restrictions) $500 N/A 31 day(s) N/A up to 31 days 288.00% N/A N/A N/A N/A
Nevada Illegal N/A N/A 30 day(s) N/A up to 30 days N/A N/A N/A N/A N/A
New Hampshire Illegal $10000 N/A N/A N/A N/A 300.00% N/A N/A N/A N/A
New Jersey Illegal N/A N/A N/A N/A N/A 360.00% N/A N/A N/A N/A
New Mexico Illegal $2500 N/A N/A N/A N/A N/A N/A N/A N/A N/A
New York Illegal N/A N/A N/A N/A N/A 300.00% N/A N/A N/A N/A
North Carolina Illegal N/A N/A N/A N/A N/A 300.00% N/A N/A N/A N/A
North Dakota Illegal $500 N/A 60 day(s) N/A N/A 360.00% N/A N/A N/A N/A
Ohio Available (with some restrictions) $800 N/A 180 day(s) N/A N/A 336.00% N/A N/A N/A N/A
Oklahoma Illegal $500 N/A 45 day(s) 12 day(s) 12 - 45 days 360.00% N/A N/A N/A N/A
Oregon Illegal $50000 N/A 60 day(s) N/A up to 60 days N/A N/A N/A N/A N/A
Pennsylvania Illegal N/A N/A N/A N/A N/A N/A N/A N/A $9.50 per $100 N/A
Rhode Island Illegal $500 N/A N/A 13 day(s) N/A N/A N/A 432.00% N/A N/A
South Carolina Legal N/A $2500 N/A N/A N/A N/A N/A N/A N/A N/A
South Dakota Legal N/A N/A 30 day(s) N/A up to 30 days N/A N/A N/A N/A N/A
Tennessee Legal $2500 N/A N/A N/A N/A N/A N/A N/A Costs limited to 1/5 of the loan plus 2% interest each month. N/A
Texas Legal N/A N/A 180 day(s) N/A up to 180 days 120.00% N/A N/A N/A N/A
Utah Legal N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Vermont Illegal $0 N/A N/A N/A N/A 216.00% N/A N/A N/A N/A
Virginia Legal N/A N/A 360 day(s) 120 day(s) 120 days - 12 months N/A N/A N/A 22% per month of outstanding balance up to $700, 18% per month for $701-$1,400, 15% per month for $1,401 or above, lien fees permitted. N/A
Washington Illegal $1000 N/A 31 day(s) N/A up to 31 days 252.00% N/A N/A N/A N/A
West Virginia Illegal N/A N/A N/A N/A N/A 372.00% N/A N/A N/A N/A
Wisconsin Legal $25000 N/A 180 day(s) N/A up to 180 days N/A N/A N/A N/A N/A
Wyoming Illegal N/A N/A 30 day(s) N/A up to 30 days 432.00% N/A N/A N/A N/A
Legal Payday Loans Online for Nebraska residents

To apply for Payday Loans online safe it's better to study the laws, rules and regulations concerning short-term cash advance in Nebraska. 

Compare top legit Payday Lenders in Nebraska:

LendYou will help you get the cash you need when you need it. You can apply for Payday Loans, Installment Loans or Personal Loans, etc. Compare the lenders and get matched with the best one.

  • MIN Loan Amount: $100
  • MAX Loan Amount: $35000
  • Terms: Varied
  • Rates and fees: Starting at 4.99% APR
  • Turnaround Time: 1 business day
  • $100 - $1000 Payday Loans
  • $1000 - $5000 Installment Loans
  • $5000 - $35000 Personal Loans
  • 18 years of age or older
  • U.S. citizenship
  • Valid checking or savings account with direct deposit
  • Minimum regular income of $1,000 per month
  • Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
Pros
  • High up to $15,000 loan amounts. 
  • Minimal restrictions on how you can use your loan.
  • No collateral or guarantor.
  • Bad credit is OK. 
Cons
  • It's not a direct lender, so you'll need to clarify rates and terms with the company you are matched with. 

 

Check Into Cash offers Payday Loans, Title Loans, Personal Installment Loans and other money products at affordable rates with convenient repayment. 

  • MIN Loan Amount: $50
  • MAX Loan Amount: $3000
  • Terms: Vary by state.
  • Rates and fees: 261% to 782% APR
  • Turnaround Time: 1 business day
  • Payday Loans
  • Online Payday Loans
  • Title Loans
  • Installment Loans
  • Online Installment Loans
  • Line of Credit
  • Flex Loans
  • Other Services
  • Check Cashing
  • Bill Pay
  • Western Union 
  • U.S. Money Card
  • Cell Phone Top-Ups
  • Sell Us Your Gift Cards For Cash
  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • 21+ years old (19+ in Alabama)
  • Social Security number (for Indiana residents only)
Pros
  • You can get even as low as $50.
  • Quick funding on the next business day.
  • Money can be used for any personal needs.
Cons
  • Not available in every state.
  • APR can be more than 153.73% depending on your state.
  • High late payment fees.

 

Greenlight Cash created an online platform to connect consumers like you with reliable lenders across the country. They partner with a large network of professionals so you get a chance to work with one of them and meet the challenge of improving your financial situation in the most effective way. Once you tap submit, you get one step closer to receiving the funds.

  • Payday Loans
  • Installment Loans
  • Personal Loans
  • be a legal U.S. resident
  • be at least 18 years old
  • have a stable source of income
  • be currently employed
  • have an active bank account
Pros
  • Unrivaled flexibility and accessibility.
  • Predictable monthly payments

  • Quick and simplified borrowing process

  • Any credit is welcome
Cons
  • Not a direct lender.

 

GoGoPaydayLoans offers Payday Loans at affordable rates with convenient repayment terms. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $1000
  • Terms: Vary by state.
  • Rates and fees: 261% to 782% APR
  • Turnaround Time: 1 business day

$100 - $1000 Payday Loans

  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • 21+ years old (19+ in Alabama)
  • Social Security number (for Indiana residents only)
Pros
  • You can get even as low as $100.
  • Quick funding on the next business day.
  • Money can be used for any personal needs.
Cons
  • Not available in every state.
  • APR can be more than 153.73% depending on your state.
  • High late payment fees.

 

PaydayloansUSA.online offers Payday Loans, Installment Loans, Personal Loans and other money products at affordable rates with convenient repayment. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $35000
  • Terms: Vary by state.
  • Rates and fees: 4.99% to 1386% APR
  • Turnaround Time: 1 business day
  • Payday Loans
  • Installment Loans
  • Personal Loans
  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
Pros
  • Quick - no driving, waiting, faxing, paperwork.
  • More than 300 direct lenders.
  • High approval rate even for bad credit Payday Loans.
  • Online Payday cash advance with no collateral.
  • 24 / 7 online service.
  • No hard credit check Payday Loans.
Cons
  • High interest rates.
  • Available not in all the states.
  • Not many financial products offered.

 

Indyloan.com offers Personal Loans online at affordable rates with convenient repayment. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $5000
  • Terms: Vary by state
  • Rates and fees: Varied
  • Turnaround Time: 1 - 2 business day

Personal Loans

  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
Pros
  • Quick - no driving, waiting, faxing, paperwork.
  • High approval rate even for bad credit borrowers.
  • Online Payday cash advance with no collateral or co-signer.
  • 24 / 7 online service.
Cons
  • High interest rates.
  • Available not in all the states.
  • Only loans up to $5000 are available.

 

Table of Contents:

Are Payday Loans legal in Nebraska?

Nebraska Payday Loan Terms and Amounts

Nebraska Payday Loans online laws

Nebraska Payday Loans interest rates, fees and other finance charges

Nebraska Payday Loans direct lenders regulations

Nebraska Payday Loans consumer information

Legitimate Payday Loans online with NO credit check in Nebraska

Does Nebraska law allow Payday Loans for bad credit borrowers?

Legit Payday Loans in Nebraska collection practices

Nebraska Payday Loans news  - latest changes

Nebraska Payday Loans historical background

Nebraska Payday Loan alternatives

Are Payday Loans Legal in Nebraska?

Short-term Payday Loans are Legal in the state of Nebraska and are mostly regulated through  Nebraska Stat. Ann. § 45-901.

Delayed Deposit Services Licensing Act.pdf

The Payday Lending legislation covers all the parts of the process concerning:

  • Payday Loan amounts
  • Payday Loan repayment terms
  • Payday Loan online direct lenders
  • Payday Loan stores near you
  • Payday Loan interest rates and other fees
  • Payday Loan collecting practices
  • Payday Loan default penalties
  • The number of outstanding Payday Loans as well as a cooling-off period in-between etc.

Read more: Payday Loans in Nebraska

The eligibility criteria for Payday Loans in Nebraska are:

  • US residence
  • Minimum regular income of $1,000 per month
  • Valid checking or savings account with direct deposit
  • Phone number and e-mail address

Nebraska Payday Loan Terms and Amounts

Nebraska allows maximum $500 Payday Loan amount. It should be repaid within up to 34 days as you get your next paycheck. Earlier payments don’t contemplate any additional fees. You are likely to be charged $17.65 for a 14-day $100 loan taking into account the maximum APR of 460.00%.

In Nebraska, the permissible charges for payday loans are dramatic. For example, current law allows an average annual percentage rate (APR) of 461 percent, for the loan maximum of $425 (on a two-week loan, $17.65 per $100 loaned). This is one of the highest allowable rates in the nation. This type of loan is permitted under the Delayed Deposit Services Licensing Act (DDSLA).

However, there are no limits on the purpose of loan usage. Any urgent expenses, unforeseen bills, car repair, home repair, etc. may seem a sound reason to apply for a Payday Loan in Nebraska.

If $500 is not enough, there are always other options to receive the necessary funds in Nebraska:

  • Unsecured Installment Loans,
  • Bad Credit Personal Loans,
  • Title Loans,
  • Check Cashing,
  • Pawn Shops, etc.

Nebraska Payday Loans online laws

Cash advances (payday loans) from both storefront and online lenders are legal in the state of Nebraska.

Reputable online lenders operating in accordance with all relevant state and federal laws can be applied to and compared on our platform using a simple online application form.

You state the necessary amount, fill in your personal information and get suitable offers from legit direct lenders. It takes only a few minutes and doesn't affect your credit score. 

In case Payday Loan lenders violate Nebraska laws, you can address the Nebraska Department of Banking and Commerce (Department). It is tasked with regulating the payday lending industry. The Director of Banking (Director) has the ultimate authority to administer and enforce the DDSLA, to investigate and publish legal violations, and to impose a fine or suspend or revoke the license of a lender found violating the law.

Nebraska Payday Loans interest rates, fees, and other finance charges

The main part of the payday loan payment is mostly made up of the interest rate, or APR. The maximum APR that may be charged for short-term cash advance in Nebraska is 460.00%. It means that if you borrow $100 Payday Loan for 14 days the finance charges will be  $15 per $100.

Besides, the total cost of a Payday Loan includes some additional fees. Nebraska lending rules allow to charge $15 NSF fee.

The law obligates Nebraska Payday Loan lenders to provide you with a written disclosure of all the rates and fees in the understandable language. You should read them carefully and if you agree to acknowledge the notification by signing the contract.

Nebraska Payday Loans direct lenders regulations 

According to the most recent data available, as of June 20, 2015 Nebraska had 87 delayed deposit service businesses, or payday lenders. Many of these businesses operated multiple storefronts. The Department has the authority to investigate these entities, and enter into a “consent agreement,” in instances where a lender is found to be out of compliance with a provision of the DDSLA. A consent agreement embodies the terms of a settlement between two parties to resolve a dispute. The details of the investigation are provided in the consent agreement itself.

Besides, the Delayed Deposit Services Licensing Act (DDSLA) provides that payday lenders must be licensed in the state in order to operate, the conditions that must be met in order to be licensed, fee limitations, generally prohibited acts, the authority and powers of the Director of the Department of Banking, and the penalty for operating without a license.

Nevertheless, you should be careful not to come across any scams. Some unfair lenders can operate without license or under a different license and offer too expensive ‘payday loans’ under illegal conditions. Always check that the lender you are going to apply to works under Nebraska state law.

Nebraska Payday Loans consumer information

Besides amounts, rates, and fees, consumers must be also well aware of other details of Payday Loans in Nebraska. They include the availability and number of rollovers, extensions and repayment plans, a cooling-off period, any default penalties or additional fees, etc. Check out the table below to find the most essential information:

Rollovers or extensions Not allowed
Cooling-off period None
NSF fee $15 NSF fee
Criminal actions Prohibited

Still, there do happen cases of lenders' violation of Payday Loans in Nebraska - find out the most common ones and ways to deal with them:

The Payday Lending Problem in Nebraska.pdf 

Based on the forgoing, and on the nature and number of consent agreements entered into between the Department and payday lenders, it is clear that many lenders have a history of compliance issues. Based upon this, Nebraska should reform its payday lending laws to make loans more fair, reasonable and transparent.

Look for more detailed information on the official Nebraska state regulator website - The Nebraska Department of Banking & Finance, situated in 1526 K Street, Suite 300, Lincoln, NE 68508-2732 or by phone (402) 471-2171.

Legitimate Payday Loans Online with NO credit check in Nebraska

Looking for a legal Payday Loan with No credit check in Nebraska? You must understand the meaning of this phrase correctly at first. No credit check implies that a lender will not inquire about your credit history information from or send your borrowing data to any of the three major credit bureaus Equifax, Experian and TransUnion.

If you don’t want to damage your credit history Nebraska law allows you to apply for a Payday Loan with No credit check. But you should understand that a lender needs to check your creditworthiness at least in some way. He can perform a soft credit check when a lender pre-approves you for a loan and this inquiry will not appear on your credit report. Or there’re other ways to prove you can afford the cash advance. Payday Loan lenders use the tracking system to verify your debts, check your income, etc. And generally, they charge higher interest to lessen the risks.

Nebraska Payday loans online no credit check are one of the easiest options of getting quick cash to cope with emergency financial requirements, especially for the people with poor credit.

Does Nebraska law allow Payday Loans for bad credit borrowers?

The average credit score in Nebraska is 695, placing it in the good range. But it doesn't mean that those who have a worse credit can't apply for a Payday Loan in Nebraska. 

  • First of all, There're a lot of legit direct lenders in Nebraska providing Payday cash advance to borrowers with both good and bad credit score.
  • Secondly, you can always find a cosigner to increase your chances of being approved for a bad credit Payday Loan.
  • Find out how to improve your credit score and do your best to do it fast. 
  • Or consider taking out a bad credit Installment Loan, or bad credit Personal Loan.

Legit Payday Loans in Nebraska collection practices

If you can’t repay the loan amount plus interest on a due date it means you default the loan. When Nebraska direct lender isn’t able to cash your check after the repayment term is over he may charge you an NSF fee. NSF fee means there are non-sufficient funds on your account. The amount charged is determined by the lender and stated in the agreement and may also be limited by the state’s Payday Loan law. In Nebraska it’s $15.

Besides there are other default penalties in Nebraska such as $15 NSF fee.

What concerns collection practices, first of all, you may stay assured that any criminal actions are forbidden in Nebraska. The California/Rosenthal Fair Debt Collection Practices Act provides all the same provisions as a certain federal law. As with the federal Fair Debt Collection Practices Act (FDCPA), California’s state version prohibits debt collectors from harassing or misleading a debtor.

If you think that your payday lender violates the Nebraska Payday Loans law, you may file a written complaint with The Nebraska Department of Banking & Finance, situated in 1526 K Street, Suite 300, Lincoln, NE 68508-2732 or by phone (402) 471-2171. The supervisor from that office interviews witnesses, reviews the payday lender’s business records and documentation, and determine whether to pursue civil or criminal charges

Nebraska Payday Loans news  - latest changes

Nebraska Secretary of State Petition Sponsor Sworn Statement.pdf

The main goal of the new Payday Loans legislature is to cap the interest rates at 36%. It is also required that a lender provided a full written notice to a borrower, including the name of the borrower, transaction date and amount, payment due date and total payment due and the total fees on the transaction, both in actual dollars and as the annual percentage rate, or APR.

Besides, the total cost of a transaction to $500 should be limited. Additionally, borrowers who are on active military duty or their spouses and dependents cannot be charged fees in excess of those allowed under federal law. Borrowers can also request an extended payment plan once in a 12-month period, and lenders must accept prepayment of a loan before the term without penalty.

Nebraska Payday Loans historical background

The history of Payday Loans in Nebraska
1994 Payday Loans were first introduced in Nebraska.
2000 Post dated checks were allowed to be held longer than 31 days if they couldn't be cashed.
2006 Loan terms were extended to 34 days and roll-overs were prohibited.
2006 Loans to the military were capped at 36% interest.
June 2, 2006 A Payday Loan Rule was proposed.
2016 It was attempted to cap the interest at 36% but not accepted.
April 16, 2018 Payday Lenders were made to follow all the state's lending regulations.

Nebraska Payday Loan alternatives

If you're looking for instant cash advance in Nebraska but not a Payday Loan, consider other alternative ways to get the necessary funds:

  • Apply for Nebraska Installment Loans - $1000 - $5000 cash advance repaid over several months or years in equal installments.
  • Take out a Car Title Loan if you own a vehicle to use as collateral.
  • Sell some of your valuable stuff online or at a pawn-shop.
  • Consider borrowing from a bank or credit union. In Nebraska there're numerous Federal Credit Unions offering Payday Alternative Loans: Western Heritage Credit Union, Liberty First Credit Union, LincOne Federal Credit Union, MembersOwn Credit Union, Nebraska State Employees Credit Union, Peoples Choice Federal Credit Union and University of Nebraska Federal Credit Union, etc.
  • Qualify for one of Federal or Nebraska government assistance programs: Kids Connection, Rental Assistance Program (RAP), Nebraska Food Stamp Program, Aid to Dependent Children (ADC) program, Child Care Subsidy, Emergency Assistance, Mortgage Help and Foreclosure Prevention, Nebraska Prescription Card - Nebraska Rx Card and many others depending on your needs.

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