Payday Loan laws Of North Dakota

By Shawn Martin


North Dakota State Flag
North Dakota State Flag

Payday loan laws of North Dakota do cover limits of 60 days on the length of payday loans.

They also have a limit of $500.00 per loan. They do not limit how many loans a person may take out at one time.

The interest rates and the lack of any limits on roll overs is what can get a borrower in trouble rather quickly.

Loan companies are allowed to charge a 20% loan fee plus a database fee to be determined by the loan company, plus 30% of the loan total in interest.

Lets do the math on a 2 week $200.00 loan.

  • 20% of $200.00 is $40.00,
  • 30% of $200.00 is $60.00
  • Database fee of $45.00
  • Total to borrow $200.00 for 2 weeks is $145.00

So the total payback of a 2 week $200.00 loan is $345.00

Wait, something else came up and now we must roll this loan over.

  • Roll over fee $45.00
  • database fee $45.00
  • Total to roll this loan over $90.00

Remember, now in two weeks the total due is still $345.00, and if the borrower pays this off in full on this next due date they will have spent $235.00 to borrow $200.00 for 4 weeks.

But wait!  The borrower still has 30 days left of the 60 days they can have this loan active for and something else has come up, so they decide to roll the loan over one more time……..

Cab you see how crazy this cycle is? We call this the payday loan trap and once a person gets stuck in it it can become brutal for the borrower.

The average borrower rolls over a payday loan between 4 to 5 times, and if you keep doing the math this is on a path to financial trouble. If you add in any bounced payments to the loan company, then add bank charges, and on and on, you have a mess for sure.

We can help!


If you have found yourself in over your head in payday loan debt in North Dakota or any other state we recommend you read our Payday loan repayment plan and fill out our form requesting  a free no obligation quote on how we can help you get out of the payday loan trap.

We can set you up on low payments and consolidate multiple payday loans inot a bi-weekly or monthly payment you can afford. We can also stop the harassing phone calls to your home, work and references.

I hope this information on online payday loans in North Dakota help you make good choices when thinking about dealing with these companies, and if you are stuck in the payday loan trap get hold of us so we can start helping you today!

4 thoughts on “Payday Loan laws Of North Dakota”

  1. I tell ya Shawn legal loan sharking for sure…the only difference is they don’t break your legs they just ruin your life……not sure what is worse…????:)

  2. It’s just insane how they are screwing people, i realize no one is holding a gun to anyone’s head but still a person should be able to borrow a few bucks without getting hosed.

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