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Financial struggles can hang like a dark cloud over your head. When you're hit with an emergency on top of those struggles, it can quickly become overwhelming. Go through this guide to find out what a payday loan will involve for residents of Lincoln.
Under the Nebraska Statutes Annotated §§ 45-901, you can borrow up to $500 from a lender in Lincoln. There is a financing fee of $15 per $100, and you may have no more than two outstanding loans at any time. This applies whether you borrow from an online lender or one with a local storefront.
Our page on Nebraska law has more information on payday loans
Before you apply, you’ll need to be at least 18 years old, have a regular source of income and be a citizen or permanent resident of the US.
If you aren’t offered a loan, consider these alternatives
He visited a lender’s storefront near his work and applied for a loan of $400. The contract stated he’d need to repay $460 within two weeks. Joe knew he could handle the fees and left a post-dated check with his lender. It was cashed on the due date with no problems, and Joe was able to get his cat the surgery she needed and stay out of long-term debt.
Nebraska law allows lenders to charge $15 per $100 borrowed. This means if you borrow a small loan of $100, you’ll have to pay back $115 when the loan is due. Larger loans of $500 cost $75 in fees. This amount doesn’t include database fees, late fees or any other charges specified in your loan contract. In order to know the full potential amount you may have to pay, you’ll want to read over the terms of your loan carefully before you sign.
Just make sure you live in one of these six states to qualify.
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Find out who’s taking out payday loans and what they tend to need the money for.
Learn the rules and regulations of payday loans in this Southern town.
Before taking out a payday loan, consider looking into these alternatives first.
If you need money quick, you can apply online for a short-term installment loan from Blue Trust Loans. No prepayment penalties.
These legitimate lenders and a selection of potential alternatives to help you gain more control over your finances.
If you have bad credit and need cash fast, consider Speedy Cash for your next payday or installment loan.