A guide to Payday Loans in North Dakota, USA. 

What are the Citation (s) to Payday Loan or Small Loan Laws in North Dakota?
A: The relevant citation regarding Payday Loans in the North Dakota State Jurisdiction is N.D. Cent. Code § 13-08-01 et seq. as amended by 2005 N.D. Laws Ch. 127 (H.B. 1321)

Q: Are Payday Loans legal in North Dakota? 
A: Yes Payday Loans are legal in North Dakota. 

Q: What is the Maximum Cash Advance Loan Amount in North Dakota?
A: The maximum Cash Advance or Payday Loan amount is $500. 

Q: What is the Maximum Payday Loan Term in North Dakota?
A: The Maximum Payday Loan Term in North Dakota is 60 days. 

Q: What is the Maximum Rate and Fee for Cash Advance Loans in North Dakota?
A: The Maximum fee for Cash Advance Loans in North Dakota is 20% + databasing fee

Q: What is the Finance charge for 14-day $100 payday loan in North Dakota State?
A: The Finance charge for 14-day $100 payday loan in North Dakota is $20. 

Q: What is the APR for 14-day $100 payday loan in North Dakota State?
A: The APR charged for 14-day $100 payday loan in North Dakota is 520 percent. 

Q: Is there a limit on the number of payday loans I can take at one time? 
A: The maximum number of payday loans is not specified, however the total amount owed to all lenders must not exceed $600. 

Q: How many times can the lender rollover my payday loan in North Dakota?
A: The payday loan can be renewed once (renewal fee not to exceed 20% of amount being renewed)

Q: Is there a cooling off period in North Dakota?
A: Yes, there is a 3-day cooling off period. 

Q: If I cannot repay my payday loan can the lender initiate a criminal action? 
A: No, the payday loan lender cannot initiate a criminal action if the borrower is unable to pay the loan (Unless account was closed on date of original transaction)

Q: Can I be charged a collection fee for a payday loan?
A: Yes, $20 NSF fee (if disclosed)

Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the North Dakota Department of Financial Institutions at:

North Dakota Department of Financial Institutions
Address: 2000 Schafer Street, Suite G Bismarck, ND 58501
Phone: (701) 328-9933
Fax: (701) 328-9955
Regulatory Contact: Robert J. Entringer, Assistant Commissioner

Website: http://www.state.nd.us/dfi/

Where can I find a payday loan store in North Dakota?

You can find the store nearest to your location by simply clicking on this link  loc: North Dakota