Harassment by debt collectors and agencies is against the law, in both federal and state jurisdictions, and no one has to put up with it. The Fair Debt Collection Practices Act and the Fair Credit Reporting Act both prohibit unfair debt collection and information sharing activity that damages the quality of life and the credit report of any consumer. Many states have additional laws, making it even more difficult for collection agencies to abuse borrowers who have unpaid debts. In addition, there are many more companies who provide services to reduce or alleviate debt, as well as debt settlement attorneys who can provide legal and financial advice. There is no need for anyone to be a financial victim today.
Nebraska is one of the many states that have enacted debt collection laws that mirror, strengthen, or widen the protections provided by federal laws in this area. In addition, they require that all debt collectors and collection agencies be licensed in the state. Nebraska residents can contact their state Attorney General’s office to report abuses and find relief.
The statute of limitations period is a noted length of time in which a creditor, or debt collection company, can take legal action in court for a given outstanding debt obligation. Depending on the state, the start date of these dates is from the date an agreement is made, or from the last date of payment on a given debt, if noted by law. The jurisdiction of these statutes of limitations only covers the scope of any contract made in the state of Nebraska. The Nebraska debt collection statutes of limitations include:
More than simply requiring licensing of all debt collectors and agencies, Nebraska has their own written statutes enumerating what such debt collectors can and cannot do in the state.
In Nebraska, it is legal to
In addition, there are actions that are prohibited in Nebraska statutes:
Both federal and state laws prohibit any debt collector or agency from harassing a borrower.
The rules concerning debt negotiation and debt settlement companies fall under the rules of fair trade and commerce and preclude any business or service provider from dealing fraudulently with consumers. There are a growing number of debt settlement companies who fall into or close to that category, They promise to:
Unfortunately, some companies charge high fees and supply little or no service. It can be helpful to have a debt settlement lawyer check the business record and contracts from any such companies a borrower considers.
There are legal pitfalls throughout the financial world. Hoping to avoid attorney’s fees by settling for unsubstantiated services can lead to more trouble, including a damaged credit rating for years to come. It can be well worth the time and money to consult a debt settlement attorney to advise clients in these matters and provide protection and peace of mind.