Eligible Nebraska consumers will have outstanding lease payments canceled and gain ownership of their merchandise. The agreement covers certain accounts from 2017 through 2022, with no claims application required.
By Hola Nebraska
LINCOLN, Nebraska — Snap Finance will automatically cancel $2,652,091 in outstanding lease payments for 1,349 Nebraska consumers under a multistate settlement worth more than $664 million announced Oct. 21, 2026, by Attorney General Mike Hilgers. The relief applies to specific lease-to-own accounts from 2017 through 2022 that meet additional conditions established in the agreement.
Consumers whose accounts are covered will no longer owe the payments included in the settlement. Snap Finance will also transfer ownership of the merchandise associated with those leases, allowing customers to keep their products without making further covered payments.
Nebraska and Iowa led the agreement involving attorneys general from 17 states. Along with the payment cancellations, Snap Finance agreed to change certain advertising, contract disclosure, customer service and lease-termination practices.
Which Nebraska Snap Finance accounts qualify for cancellation?
According to the Nebraska Attorney General’s Office, 1,349 consumers in the state are included in the automatic cancellation of $2,652,091 in outstanding lease payments.
The signed settlement agreement establishes three conditions for the accounts receiving full lease forgiveness:
- Contract period: The lease-to-own agreement was entered into between 2017 and 2022 in one of the 17 participating states.
- Account control: The lease account remained under Snap Finance’s control in November 2025.
- Account status: Snap Finance had classified the account as “charged off,” an accounting status generally used for a balance considered unlikely to be collected.
Not every person who signed a Snap Finance agreement between 2017 and 2022 qualifies. The settlement’s account-status requirements also apply.
The cancellation will be automatic for consumers included in the agreement. Nebraska’s announcement does not identify a claims form or an application that affected customers must submit to receive the relief.
Affected consumers can keep their merchandise without further covered payments
The agreement provides two related forms of relief for qualifying Nebraska consumers:
- Full cancellation of covered lease balances: Snap Finance will forgive the outstanding payments on accounts included in the settlement.
- Transfer of merchandise ownership: Snap Finance will release its ownership of the products associated with those leases, allowing affected consumers to keep them.
The relief is not a cash refund or a check mailed to consumers. It removes qualifying payment obligations and transfers ownership of the leased merchandise.
The public announcement does not specify when each affected Nebraska consumer will receive notice or when the cancellation will appear in individual account records.
How Snap Finance lease-to-own agreements work
Snap Finance provides lease-to-own purchasing options through participating retailers. Customers select merchandise from a retailer, and Snap generally purchases the products and leases them to the customer under a payment agreement.
Under a typical lease-to-own arrangement, Snap retains ownership until the customer completes the applicable purchase or payment terms. The settlement eliminates the remaining covered payments and releases Snap’s ownership rights for qualifying accounts.
Snap Finance is a private financial services company and is unrelated to SNAP, the federal Supplemental Nutrition Assistance Program that helps eligible households purchase food.
Attorneys general investigated misleading terms and return practices
The multistate investigation examined concerns about Snap Finance’s lease disclosures, payment terms, collection practices and procedures for returning merchandise or ending agreements.
According to Nebraska’s attorney general, investigators found that some consumers were not given access to the full terms of their contracts and faced communication problems when trying to return products.
Other customers believed their agreements could be paid off within 100 days or less but entered into longer contracts with higher overall costs. The states also identified misleading representations suggesting that making payments under Snap’s lease-to-own product could improve a customer’s credit score.
In its Oct. 21 public statement, Snap Finance said it had cooperated with the investigation and maintained that its practices complied with applicable law. The company emphasized that the settlement does not include an admission that it violated the law.
Snap Finance agrees to changes in advertising and customer protections
The settlement also requires changes to Snap Finance’s lease-to-own business practices in the participating states.
- Advertising: Snap must avoid misleading claims that could give consumers an inaccurate understanding of lease costs.
- Contract disclosures: Customers must receive the full applicable terms and costs before entering agreements, consistent with state law.
- Merchandise servicing: The agreement establishes requirements for repairing or replacing leased items in applicable circumstances and prohibits certain false threats of repossession.
- Credit-score claims: The company cannot misrepresent that applying for or using its lease-to-own product will improve a customer’s credit rating.
- Ending agreements: Snap must clearly explain customers’ rights to terminate leases and provide appropriate procedures for returning merchandise.
- Merchant oversight: The company must provide training and submit annual compliance reports for three years.
These requirements address the practices investigated by participating states and extend beyond the individual accounts receiving payment cancellation.
Nebraska consumers can contact the Attorney General’s Office
Nebraska’s announcement does not provide a public claims deadline or a schedule for notifying the 1,349 affected consumers.
Consumers with questions about their leases or possible violations of consumer protection laws can contact the Nebraska Attorney General’s Consumer Affairs Response Team:
- Phone: 402-471-2785
- Email: [email protected]
- Online complaints: Nebraska consumer complaint and reporting options
Consumers seeking clarification about an account can keep copies of their lease agreements, payment records and communications with Snap Finance. A contract signed during the covered years does not, by itself, establish eligibility for cancellation.
The nationwide settlement includes $662 million in canceled payments
Across the 17 participating states, the agreement provides $662,102,518 in lease-payment forgiveness for 303,223 consumers, according to the signed settlement.
Snap Finance will also pay $2.75 million to participating states, bringing the overall agreement to approximately $664.85 million. Those payments to state governments are separate from the consumer lease cancellations and do not represent checks for individual customers.
In Nebraska, the settlement provides $2,652,091 in canceled lease payments for 1,349 consumers, along with the transfer of ownership of the merchandise covered by their agreements.
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