Payday loans in Nebraska have been regulated since 1994 under the state’s Delayed Deposit Service Act, which regulates licenses, interest rates, term lengths, cash loan amounts, and payment plans for payday loans across the state.

Nebraska payday lenders may authorize cash loans for up to 34 days under current state law, with a maximum loan amount of $500. Payday lenders usually determine lending periods based on your pay schedule. If you’re paid weekly, a lender will approve your secure payday loan for 7 days. If you receive your paycheck bi-weekly, your lender will likely approve your cash loan for 14 days. If your employer pays you monthly, you can borrow a payday loan for up to 31 days. Of course, if you need cash longer than one pay period, you can discuss adjusting the terms with your lender.

As far as interest rates are concerned, payday lenders in Nebraska may charge up to $15 per $100 borrowed. Remember that not all lenders charge the same amount of interest, so it’s important to shop around to find the most affordable lender for your needs. Some lenders charge less than others, and you can easily compare rates online by searching for lenders in your area. Reading reviews from other customers can also point you in the direction of affordable lenders.

Many states that legalize payday lending ban rollovers, as they’re know to lead to significant payday loan debt. Nebraska also prohibits rollovers on all payday loans. If you need help affording your cash loan payment, discuss installment plans with your lender. Not all lenders advertise installment plans, but most payday lenders do offer them. Ask you lender about payment options if you need them.

Nebraska does not limit the number of active loans a customer can have at once, but nonetheless it’s important to be responsible with your borrowing. Borrow what you need in an emergency and repay it as soon as you can to limit your payday loan debt.