North Dakota

State Payday Loan Law Information

Payday loans in North Dakota are restricted to amounts equal to or less than $500.  The maximum term of any loan is 60 days.  The maximum finance rate and fees are 20% plus a database fee.

The maximum number of outstanding loans at one time is not specified; however, they are limited to $600 combined loans outstanding to all licensees.  The rollovers are restricted to one with a renewal fee not the exceed 20% of the amount being renewed.  There is a 3 day cooling off period with not repayment plan.

Collections fees are limited to $20 NSF check if this is included in the loan documentation.  Criminal action is prohibited unless the account was closed on the date of the original transaction.

 

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