Nebraska Collection Agency Laws
Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about About State by State Debt Recovery and other Collection Agency topics.
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.
| Guru Spotlight |
| Jennifer Mathes, Ph.D. |
