North Dakota Payday Loan Laws

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North Dakota payday loans up to $1000, cash advance and payday cash Are you looking for a payday lender in North Dakota? These days, it is easy to find a lender that would give you a loan, even if you have a bad credit score just as long as you have a job or receiving regular paycheck. But of course, before you start searching for a reliable lender it is advantageous that you know the payday loan laws so you won’t be taken for a ride by scrupulous lenders.

In North Dakota, payday loans are legal but the maximum loan amount per individual is $500, payable for week or a month. By the way, payday loan is an unsecured loans and short term, repayable on the next paycheck of the borrowers. This type of loan is suitable for individuals with bad credit score and employed but has no access to other sources of credit like bank lines or credit cards.

North Dakota Loan Limit and Interest

The state of North Dakota does not provide minimum amount of loan, but lenders cannot give more than $500 per borrowers. The finance charge on the other hand should not exceed twenty percent of the total amount of loan, which equates to an APR of 520 percent. The loan term is 60 days max and roll over or loan renewal is possible one time only, after of course payment of the additional 20% finance charge.

Apply Now for payday loans from $100 up to $1000, payday advance, cash yes, cash advance onlineThe finance charge, amount of loan and terms must be written clearly on the loan agreement. Borrowers paying their loan, should wait at least 3 days before they can reapply for another loan, this is called “cooling period” and necessary to give borrower time to sort his finances.

North Dakota Loan Collections

The states does not allow criminal action against borrowers that cannot pay their loan on time, unless there is intent to defraud lender from the beginning of the transaction or upon the due date the account holder closed the account where the post dated check issued was written off.



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