Nebraska's Credit Repair Laws
 

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Credit Consultants Association's Nebraska's Credit Laws:

This state currently has legislation pertaining to credit repair. These laws apply to the state that the consumer is located in, not the credit repair company. Keep this in mind if you plan on doing business out of state.

**DISCLAIMER - The following information is not legal advice. We strive to keep all information updated to the best of our knowledge but regulations are subject to change frequently, without our immediate awareness. The information on this page may not be 100% accurate. We strongly urge you to do your own research and to consult with a legal professional or your local legislators before making any decisions. 

Secretary of State

Department Overseeing Entity

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Address
P.O. Box 94608 Lincoln, NE 68509-4608
Phone
(402) 471-2554

Nebraska

Registration Requirements.

Some states require registration with the overseeing entity. There may also be municipal or county regulations regarding business licensing or permits depending on your location. Consult with your local government to determine licensing requirements. 

Registration required?

Yes.

Fee for registration?

$100.00

Additional fees?

N/A

Link to registration requirements?

Neb. Rev. Stat. §45-806

Link to registration forms?

Click here.

Nebraska

Bond Requirements.

Surety bonds are required in certain states in order to prove that the credit repair organization is operating in an ethical manner. The amount and requirements vary from state to state.

Bond required?

Yes.

Amount of bond required?

$100,000.00

Link to bond requirements?

Neb. Rev. Stat. §45-805

Link to bond submission application?

Click here.

Nebraska

Contract Requirements.

All credit repair organizations are subject to both state and federal regulations. According to federal law, the Credit Repair Organizations Act (CROA) requires all CRO's to provide contracts outlining the terms and descriptions of their services to their customers. Each individual state has different requirements regarding the language of those contracts.

Contract required?

Yes.

Contract disclosure language?

Neb. Rev. Stat. §45-807

Additional language requirements?

Neb. Rev. Stat. §45-808

Nebraska

Who is exempt?

Anyone performing credit repair services and receiving compensation for said services is subject to the regulations in this act. However, occupations in related professions may also perform duties that may be considered credit repair. Usually, as long as someone is behaving within the course and scope of their profession and not collecting compensation, they are considered exempt from these regulations. However, these exemption requirements vary from state to state. See Neb. Rev. Stat. §45-803.

Attorneys exempt?

Yes.

CPAs exempt?

Not listed.

Financial advisors exempt?

Not listed.

Mortgage lenders/ Originators exempt?

Yes.

Real estate agents exempt?

Yes.

Non-profits exempt?

Yes.

Non-profit exemption details, restrictions?

None specified.

To view full legal text, see Neb. Rev. Stat. §45-801 et seq.