It is safe to get a cash advance in Lincoln, Nebraska whenever you need extra funds before your next paycheck arrives. The payday loan industry is a heavily regulated business that must follow all state and federal laws that have been created to protect consumers from being harmed. In Nebraska, every quick cash store must treat their customers with respect and honesty throughout all payday loan processes.
Rules for cash advance in Lincoln, Nebraska:
In Lincoln, quick cash loan organizations and all credit collections services are not allowed to gossip with other people about your personal financial situation. The payday advance services cannot speak to your boss, relatives, or friends about the details of your quick cash loans.
A cash advance in Lincoln, Nebraska cannot be made for more than $500.00. This law was made to protect consumers from owing their complete paychecks to the fast cash loan organizations. However, under the law, it is possible to have two unpaid paycheck loans open at the same time.
The payday style of loans must be paid back in less than 31 days. The loan organizations are not allowed to extend the time of the loan repayment processes to collect more fees from consumers. Cash advance stores in Lincoln, Nebraska are not allowed to rollover unpaid loans or to combine multiple unpaid loans.
Bad Credit OK:
Paycheck lenders are not required to contact credit reporting services before entering into a loan agreement with a client. Lenders are free to loan money to any adult who meets their offline or online loan application requirements. Lenders must follow all local, state, and federal laws that govern their area.
When a quick loan is due and you cannot pay, the loan service will send your account to a collection agency to go through the normal collections processes. When borrowers file bankruptcy during collections processes, the collection service must stop trying to collect the debt. If you have secured your loan with a pre-dated check that bounces, the loan service may not threaten to file criminal charges.
Finance Rates & Fees:
For a cash advance in Lincoln, Nebraska, the maximum finance rates and fees that can be charged is $15.00 per each $100.00 amount in a loan. As an example, a $100.00 loan will cost $115.00 and a $150.00 loan would cost $172.50.
The maximum finance charge that can be charged on a 14-day $100.00 payday loan is $17.65 as of November 2010. These amounts can change as laws are revised over time.
In Nebraska, it is safe to apply for a fast cash loan whenever you need a little extra money for emergencies, bills, or shopping. At CashAdvance.com, we are aware of the rules, laws, and regulations that have been put into place by the Nebraska Department of Banking & Finance and all Federal agencies. Cash advance in Lincoln, Nebraska can offer people a way to have extra money available for all types of reasons.