Nebraska

Nebraska

Payday Loans in Nebraska

At a Glance
Nebraska
  • Nickname: Cornhusker State
  • Population: 1.93 million
  • Capital: Lincoln
  • Website: nebraska.gov

Nebraska is a Great Plains state that’s home to Omaha (its largest city) and Lincoln (its capital). The state is one of the most abundant producers of beef and corn, which might not be surprising given that the ratio of cattle to people in Nebraska is 3:1.

When it comes to poverty, the Cornhusker State fares better than many others in the Union. Nebraska’s poverty rate of 11% is just slightly lower than the national poverty rate of 11.8% (for 2018). But it still means that more than 200,000 Nebraskans lived at or below the federal poverty line in 2018, which was defined as $25,465 for a family of four.

Nebraska has the 15th lowest poverty rate in the country, which may be surprising given that – according to the U.S. Census Bureau – the median household income in Nebraska is $59,566, compared to $61,937 nationwide. But that still leaves plenty of room for struggling Nebraskans to fall into predatory lending traps.

 

 

Average Credit Card Debt and Median Household Income in Nebraska vs. the U.S.
Nebraska
The U.S.
$5,423
$6,028
Average Credit Card Debt (Q1 2019)
$59,566
$61,937
Median Household Income (2018)
Payday Loan Statistics for Borrowers in Nebraska vs. Nationally
Nebraska
U.S.
$346
$392
Average Loan Amount

Consumer Protection in Nebraska

Like every state, predatory lending practices still exist in Nebraska. A predatory lender is defined as anyone who is breaking the lending laws and regulations laid out by the state.

How to Report a Predatory Lender in Nebraska

Even if you fall victim to a predatory lender, all hope is not lost! If your lender is breaking the law, file a complaint with the Nebraska Department of Banking and Finance (NDBF). But before going to the NDBF (or taking out a payday loan for that matter), consider the following:

  • Please (we cannot stress this enough) document absolutely everything relating to your loan: bank statements, receipts, correspondence, etc.
  • If your lender is harassing you via phone and they are within the state of Nebraska, you can legally record that they are doing so, as long as you are participating in the call, thanks to one-party consent laws in Nebraska. DO NOT do this if it is an interstate call, as that would fall under federal law.
  • You must also prove you have attempted to resolve the matter with your lender before contacting the NDBF.
  • Again, documenting every little thing is important, as your lender will probably use every little thing they can against you!

Nebraska Department of Banking & Finance

  • Address: 1526 K Street, Suite 300, Lincoln, NE 68508-2732
  • Phone: (402) 471-2171

If you are a victim of predatory lending, use these state resources. Your speaking up could save the next person from being a victim as well.

 

Guides to Payday Loans in Nebraska Cities

Check out these payday loan guides to the following cities in Nebraska:

Omaha | Lincoln | Grand Island