Fair to Bad Credit Loans in ND
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Last updated March 22nd 2020
Commentary is for informational purposes only. See legal disclaimers here.Money Trouble in North Dakota?
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North Dakota Usury and Regulations
Summary of North Dakota Usury Law(s) / Quote: "Legal: 6% / Contract: North Dakota contract rate is 5.5% over the average rate for 6-month U.S. Treasury bills but not less than 7%. / Judgment: 12% / Corporate: Any rate"
(WeFindLenders.com endeavors to include the most up to date legal data for North Dakota, but no guarantee or warranty of any kind is expressed or implied as to the accuracy of said data. This data is not intended to be legal advice. For legal help speak with a lawyer in North Dakota, and/or contact the North Dakota State government's division of banking and finance - legal statutes researched by FindLaw.com & American Lawyers Quarterly - see credits)
North Dakota Usury Law Information:
Legal Maximum Interest Rates: Quote: "6% (§47-14-05); if contract in writing, up to 5.5% higher than average interest on treasury bills, but maximum must be at least 7% (§47-14-09)"
Usury Penalties:
Quote: "Forfeit all interest and 25% of principal
(§47-14-10); Class B misdemeanor (§47-14-11); if interest
paid, twice amount paid may be recovered (§47-14-10)"
Judgment Interest Rates: Quote: "Contract
rate, otherwise 12% (§28-20-34)"
Legal Exceptions: Quote: "Loans to
corporations; agency funded by state/federal government; amount over
$35,000; loans to partnerships/limited partnerships (§47-14-09)"
North Dakota Lenders By City
Fargo ND / Bismarck ND / Grand Forks ND / Minot ND / West Fargo ND / Williston ND / Dickinson ND / Mandan ND
Complaints to:
North
Dakota Department of Financial Institutions
/ North
Dakota Complaint Process / North
Dakota Complaint Form (PDF)
Physical Address: North Dakota Department of Financial
Institutions / 2000 Schafer Street, Suite G, Bismarck, ND 58501-1204
/ Phone: 701.328.9933 Fax: 701.328.0290 / Email: dfi@nd.gov
North Dakota Lender Service Areas Map
Click
or tap map image above for interactive version.
Lenders contact
us for listing removal or amendment.
United Savings Credit Union
1001 1st Ave N, Fargo, ND 58102
www.unitedsavingscu.org
701.235.2832
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Freedom Community Credit Union
2940 N University Dr, Fargo
ND 58102 - 701.232.0828
www.freedomccu.com
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Capital Credit Union
4900 13th Ave South #5, Fargo
ND 58103 www.capcu.org
701.282.2139
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Railway Credit Union
112 S 24th St, Bismarck, ND 58501
www.railwaycu.com
701.222.8736
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Vue Community Credit Union
818 E Main Ave, Bismarck, ND 58501
www.vueccu.com
701.223.6533
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First Community Credit Union
425 N 5th St, Bismarck, ND 58501
www.myfccu.com
701.258.2751
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Mid-America Credit Union Association
2005 N Kavaney Dr, Bismarck
ND 58501 - www.cuad.coop
701.258.5760
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Area Community Credit Union
2800 S Washington St, Grand Forks
ND 58201 - www.gfaccu.com
701.772.2690
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1st Liberty FCU
3197 S 17th St, Grand Forks
ND 58201 - www.1stliberty.org
701.772.9519
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Riverfork Federal Credit Union
711 N Washington Street #101
Grand Forks, ND 58203
www.riverforkfcu.com
701.775.0593
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University Federal Credit Union
2901 University Ave #136
Grand Forks, ND 58202
www.universityfederalcu.org
701.777.2274
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Bad Credit Loan Form for North Dakota
Bad Credit Loan Exaxmple In ND
Between losing his job, not paying bills on time and spending too much money Gaston needs a bad credit loan as quickly as possible. He owes a total of $5500 to credit cards, pay day loan lenders and taxes on money he earned before he lost his job.
He was not paying taxes on his self employed earnings or at least not enough. Now he owes a couple thousand to the IRS and no way to pay it at the moment unless he wants to forego paying his mortgage and car loan.
He is working again, and he is paying his mortgage etc. but does not make enough to repay everything right away. He needs a loan to help him through the time he needs to earn the money to pay off all of his debts.
When he was unemployed after he lost his business, he had to charge many of his regular expenses to his credit cards. He owes several thousand on his credit cards as well. The interest rate on the credit cards will be 21% which is quite high. His last resort before he started working again was to take out a pay day loan.
He started working and based on what he was to be
paid was able to get a loan which he was to pay back with his first
pay check.
He paid most of it back, but he also needed groceries for the family
and he needed to pay utilities otherwise they were going to turn off
the water and the electricity.
Of course there were lots of late fees and high interest
fees with the pay day loan because he did not pay it off in full as
originally agreed.
He desperately wants to be approved for bad credit loan of $5500 with
a three year term on the loan.
A $5500 loan with a 3 year term 9.56% interest rate for Gaston would cost him the following per month:
• Loan Amount (principal) = $5500
• Interest Rate = 9.56%
• Term Length =3 year
• Monthly Payment = $176.34
• Total Paid Back = $6348.08
• Total Interest = $848.08
Gaston is like many consumers who lose their jobs. They may not have any emergency savings to rely on while they find the next job. When you live pay check to pay check, it is tough to pay the bills when there is no money coming in.
As soon as they stop paying the bills their credit rating takes a hit.
They suddenly have a bad credit score and owe money to various groups, whether it is government taxation, credit cards or high risk lenders such as pay day loan lenders.
When this occurs it can be tough to be approved for any loan at a reasonable interest rate.
Gaston should be approved for the loan he has applied for. With his new job he can afford to pay the loan payment each month plus his regular utility bills and mortgage payments.
He also plans to begin saving some money for the next emergency that may come along to test Gaston’s ability to pay all his regular monthly payments. It may take him up to seven years to clear his bad credit record.
If you live in the State of North Dakota and you're struggling to get a loan approval with a bad credit rating we hope our website helps you in some way.
Sincerely,
Chris Somerset
Chris Somerset is the daughter of Lance Somerset who founded the We Find Lenders Pool. She contributes to WeFindLenders.com whenever she's not having fun with her three children and her husband Ron.
Debt Consolidation Loans in ND
Last 5 debt service loans approved in the State of North Dakota. Source: WFL Lender Pool. Updated Weekly. Principals rounded to the nearest $1000. Relative interest rates listed below in order left to right.
$6500 $35000 $9000 850000 $7500
6.64% 11.45% 9.10% 5.48% 11.22%
North Dakota Debt Consolidation Providers and Lenders Map
Click
or tap map image above for interactive version. OneMain Financial - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - A American Debt Consolidation - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - FFE Federal Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Town and Country Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Fargo VA Federal Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Dakota West Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - North Star Community Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Prairie Federal Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Minot School Employees CU - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - Med Park Credit Union - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - North Dakota residents have many choices
when choosing a debt service provider. If they want help dealing with
their debt they can use a credit counseling service, and depending on
their debt they can apply with a local credit union or bank. If they need
a debt settlement program they can use some of the companies listed here
as well. If you have bad credit and your credit
score is low enough that traditional banks won't approve you, you can
use our pre-app system to access over 500+ lenders. Hundreds of these
lenders will consider bad
credit applicants for consolidation products, and dozens will approve
loans based on your income from employment or whatever source your income
is. Hildy believes that trouble always comes
in threes and that seems to be what has happened to her in the past month.
She is going to need a debt consolidation
loan for $14500 which she wants to repay over the next six years. She really does not know what else to
do at this point and just hopes that her problems are over. She is still fighting the amount, because
it seems really high to her for what they did. Hildy is recovering and
they did get her back on track. New tires, brakes, exhaust system and
alignment all need to be done. She had no choice. The car was in for an
oil change which was overdue and the mechanic said he could not let her
drive on bald tires and squealing brakes. She needs help to pay all of these bills,
especially her car since she needs it to get back and forth to work. She is stressing out over everything and
really needs to be approved for this loan. Everyone has to deal with financial surprises
from time to time and sometimes they come all at the same time. Hildy is dealing with emergencies and
also a short term cash flow problem, which this loan will solve for her. She might be able to obtain a smaller
interest rate if she were to apply for a secured personal loan using her
home as security. Since the home is in both her husband’s name and
her own, they both would need to apply for the loan and be approved for
the loan. The hospital bill can wait a few weeks
before it needs to be paid. They are reviewing their situation and will
likely send it a revised application to show both names on the application.
If you live in the State of North Dakota
and you're trying to get approved for a debt consolidation loan, we hope
our website helps you find a good lender regardless of your credit rating. Andy Somerset Andy
Somerset is the son of Lance Somerset who founded the We
Find Lenders Pool. He writes for WeFindLenders.com whenever he's not
working hard on his degree in finance. Click
or tap map image above for interactive version. - - - - - - - - - - - - - - - -
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Lenders contact
us for listing removal or amendment.
2100 S Columbia Rd #112 Grand Forks
ND 58201 - 701.772.7114
www.onemainfinancial.com
Bismarck, ND 58501
701.255.3886
657 2nd Ave North, Fargo
ND 58102 - ffe-fcu.org
701.235.1359
1501 32nd Ave S, Fargo
ND 58103 - 701.356.1800
www.townandcountry.org
2101 Elm St N, Fargo
ND 58102 - 701.280.0870
www.fargovafcu.org
211 1st Ave SW, Bowman
ND 58623 - dakotawestcu.com
701.523.5479
241 US-2, Rugby ND 58368
www.northstarccu.com
701.776.5869
1430 South Broadway, Minot
ND 58701 - www.prairiefcu.com
701.837.5353
215 2nd St SE, Minot
ND 58701 - www.masfcu.org
701.857.4430
1200 S Columbia Rd, Grand Forks
ND 58201 - www.medparkcu.com
701.780.5733 North Dakota
Consolidation Form
About Consolidations In
North Dakota
Consolidation
Example in North Dakota
She ended up in emergency at the local hospital and after being there
for only 4 hours the bill came to almost $9000 for treatment and testing.
The day after she found out that her car needed major repairs and that
these repairs were going to cost another couple of thousand.
She also spent some money for household things before this all happened
and now the credit card payment is due.
A $14500 loan with a 6 year term 6.75% interest rate for Hildy would cost
her the following per month:
• Loan Amount (principal) = $14500
• Interest Rate = 6.75%
• Term Length = 6 year
• Monthly Payment = $245.47
• Total Paid Back = $17674.10
• Total Interest = $3174.10
Hildy is fortunate that her credit score is in good shape and that she
and her husband make sufficient money to allow her to carry the monthly
payment for this loan.
She and her husband have a small mortgage on their home, a car loan and
the small amount of credit card debt previously mentioned.
They do not have a lot of time to make a decision. The credit card bill
is due this week and she needs her car back to use to get to work.
Sincerely,
Debt
Counseling Services In ND
Counselors contact
us for listing amendment.
Fargo ND 58103
701.293.4018
1930 Dakota Dr North
Fargo, ND 58102
701.203.2114WFL Loan Product
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