Nebraska Collection Laws
Many states impose responsibilities, liabilities and penalties upon companies for activities of Nebraska debt collectors engaged by them in the collection of debts. You need to know the Nebraska collection laws and state debt collections law.
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You can be held accountable for what your Nebraska collection attorney does or
doesn't do. You must know the Nebraska collection laws, and the information here
can reduce your liability by giving you the state debt collections law
information for making informed decisions. Please study the Nebraska collections laws listed below
and make sure your Nebraska collection lawyer abides by them to the letter.
Debt collections law vary, and knowing the right collection
law for your state and your debtor's state is essential. Here you can read up
on: Nebraska Statute of Limitations, Nebraska Judgments, Nebraska Garnishments,
Nebraska Interest Rates, Nebraska Bad Check Laws and Nebraska Collection Agency
Requirements.
INTEREST RATE
Legal: 12% per written instrument or contract rate
Judgment: 1% above bond equivalent yield as published by U.S. Treasury
STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 4 Written Contract: 5 Domestic
Judgment: 5 renewable every 5 Foreign Judgment: 5 nonrenewable
BAD CHECK LAWS (CIVIL PENALTY)
Amount due, costs, protest fees
GENERAL GARNISHMENT EXEMPTIONS
Greater of 75% disposable earnings (85% if head of household), or 30 x fed.
minimum hourly wage.
COLLECTION AGENCY BOND & LICENSE
Bond: Based on Lic. Solic. Less Than 5 = 5,000, 5-15=$10,000, 16-Up=$15,000
License: Yes
Fee: (not to exceed)
$250 - Investigation
$200 - Original
$100 - Renewal
$50 - Investigation Branch Office
$35 - Original Branch Office
Exemption for out-of-state collectors: Out-of-state collectors are exempt if [1]
communicating by interstate means (phone, fax, mail); and [2] are "regulated" by
the laws of another state.
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