Debt collection is the process by which a person or entity who is owed money or property seeks payment for the debt. Debt collection may be performed by the person or entity who is owed the debt (the creditor), or may be performed by a third-party debt collector hired by the creditor to collect the debt on behalf of the creditor. Sometimes creditors sell the debt to another entity at a discounted value, and the entity that purchases the debt becomes the creditor.

Debts that are often the subject of debt collection efforts include (1) credit card debt; (2) car or auto loan debt; (3) medical debt; (4) student loan debt; (5) unpaid utility and telephone bills; and (6) personal loan debt.

If you owe money, you have a legal obligation to repay it. But state and federal laws—such as the Fair Debt Collection Practices Act—prohibit debt collectors from using deceptive or abusive tactics to collect the debt.

In Nebraska, debt collection is regulated by both state statutes and federal law. The federal Fair Debt Collection Practices Act (FDCPA) provides a framework that protects consumers from abusive, deceptive, and unfair debt collection practices. Under the FDCPA, debt collectors are prohibited from engaging in practices such as calling at unreasonable hours, using threats of violence, making false statements about the debt, or misrepresenting their identity. Nebraska's Collection Agency Act also governs the practices of debt collectors within the state, requiring them to be licensed and to adhere to certain operational guidelines. Additionally, Nebraska has statutes of limitations on debt, which limit the time frame within which a creditor can legally sue to collect a debt. These limitations vary depending on the type of debt, but once they expire, the debt is considered 'time-barred,' although collectors may still attempt to collect on these debts. Consumers in Nebraska have the right to request verification of the debt and can dispute inaccuracies. If a consumer believes a debt collector has violated state or federal laws, they may file a complaint with the Nebraska Attorney General's Office or seek legal advice from an attorney to explore potential legal remedies.