By Shawn Martin
The Nebraska state payday loan laws are set up to somewhat protect the borrower in certain areas,but fall short in many others.
Payday loans are legal in Nebraska and seem to be going strong.
You may take out a payday loan for up to the $500.00 maximum allowed to any one borrower, but, and here is the catch, you can take as many as you wish until you reach that $500.00 limit.
This can lead to multiple loans with all the fees that go with them.
Sounds like the perfect lead into the payday loan trap, and one that can get you into trouble fast! There is a 31 day limit on payday loan length and the interest rates come in at 15% of the face value of the check.
In theory, you could have several loans out and be needing to roll them over just to stay on top of the interest, leading to a major problem with payday loan debt.
We can help!
If you have found yourself in trouble with this kind of debt and the collectors are calling and threatening legal action you need to take action yourself.
Check out our Payday Loan Repayment Plan and give us a call at 1-877-280-5100 or fill out this form to get a free quote and find out more information on how we can help stop this activity and get those interest rates dropped and give you some sanity back!
I hope this information on Nebraska state banking laws involving payday loans helps you make wise decisions when considering doing business with these legal loan sharks!