Nebraska Debt Relief Laws

Nebraska does not have a state rules and regulations to protect victims of predatory collection practices. However, Those seeking Nebraska debt settlement should confer to the federal Fair Debt Collection Practices Act (FDCPA). Features include:

• Debt collector cannot publish or post your name
• Collectors may only contact debtors between 8am and 9pm unless you indicate otherwise
• If you are being represented by an attorney, the debt collector must communicate with you through your lawyer
• Creditor initiated calls must be made between the hours of 8am and 9pm (unless you indicate otherwise)
• Collectors must send all correspondence in an unmarked envelope--no postcards or stamps outside the envelope indicating it is from a collections agency
• The collector cannot misrepresent documents by making correspondence appear to be legal documents when its not
• Collectors cannot charge you fees or collect an amount greater than what you owe
• Debt can be disputed in writing within 30 days of receiving the first notice--the collector cannot contact you again until your notification mails

Consumers in Nebraska who have been a victim of illegal practices by debt collectors can seek refuge by pursing damages through the federal Fair Debt Collection Practices Act (FDCPA). If the collection agency has violated the law Nebraska consumers can be awarded damages of up to $1,000.

Nebraska Statue of Limitations (SOL)

Nebraska has a four-year statue of limitation (SOL) on open accounts such as credit cards, meaning that the creditor can contact you for up to four years. For written contracts creditors can also pursue you for up to six years. Consumers can consider Nebraska debt settlement during the time the account remains open.

Nebraska debt relief means that the law protects certain areas of wage garnishment. Areas that are exempt include:

• Pensions and retirement benefits--Nebraska offers protection for state employee pensions, county and school employee, plus private retirement benefits
• Public benefits/assistance-- Nebraska protects benefits such as workers’ compensation, unemployment, veterans and families with dependent children are protected
• Life insurance, annuity and fraternal society benefits are protected in Nebraska for up to $100,000

Nebraska Credit Card Debt Relief Act of 2010

The Credit Card Debt Relief Act of 2010 has streamlined the methods for repaying debt and regulated how collectors work with debtors. The Act has impacted debt relief collections several ways:

• The number of fraudulent or weak performing credit card companies are gone
• Reduces the chances of falling victim to fraudulent debt settlement companies due to new Federal Trade Commission (FTC) reforms
• Increased, open communication from creditors--more information is provided to help you eliminate your loans
• Debt settlement companies cannot request upfront fees from clients