NebraskaState Collection Laws

STATE INTEREST RATES AND USURY LIMITS:

• Legal Rate: 12% from March 19th, 1980 through August 31st, 1983 AND at 6% from September 1st, 1983 forward.

• Contract Rate: Not to exceed 16%

• Judgment Rate: Rate equal to one percentage point above the bond equivalent yield published by the Secretary of the Treasury of the United States. Neb. Rev. Stat. Ann. § 45-103

 

LEGAL AGE:

• Age of Majority: 19

• Contracts: A person 18 years or more may enter into a binding contract and is here after held responsible. Generally, minors do not have the capacity to bind themselves to a contract but a minor is liable for the value of necessaries furnished to him.

 

DEBT RESPONSIBILITY: DOCTRINE OF NECESSARIES

• A women’s property at time of her marriage is hers and she is not liable for her husband’s debts. Neb Rev. Stat. Ann. § 42-201

 

STATUTE OF LIMITATIONS FOR CIVIL ACTIONS:

• Contracts: Not in writing, expressed or implied, 4 years; In writing or foreign judgment, 5 years

•Judgments: 5 years

 

This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Although we attempt to provide up-to-date information, laws and regulations often change. We make no claims, promises, or guarantees about the accuracy or completeness of this document. For legal advice please contact an attorney.

Contacted
by BCC?