Nebraska Collection Agency Laws
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Nebraska Collection Agency Laws
Following is some important information on Nebraska debt collection laws including: Nebraska Statutes, 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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