Payday Loans in Edinburg, North Dakota

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No payday loan companies in Edinburg, ND. Consider companies in other cities:

Company nameAddressZip codePhone number
United States Postal Service 415 Main Ave E, West Fargo, ND 58078 +1 (800) 275 - 8777
Bank of the West 501 Dakota Ave, Wahpeton, ND 58075 +1 (701) 642 - 5567
Farm Credit Services 1400 31st Ave SW, Minot, ND 58701 +1 (701) 852 - 1265
Choice Bank 119 Main St NW, Lamoure, ND 58458 +1 (701) 883 - 8282
First Community Credit Union 425 N 5th St #1, Bismarck, ND 58501 +1 (701) 258 - 2751
First Community Credit Union 111 9th St SW, Jamestown, ND 58401 +1 (701) 252 - 0360
EZ Money Check Cashing 3041 Main Ave, Fargo, ND 58103 +1 (701) 234 - 0085
Student Loan Service Center 1440 N University Dr, Fargo, ND 58102 +1 (701) 231 - 9545
AgCountry Farm Credit Services 200 1st St SW, Lamoure, ND 58458 +1 (701) 883 - 5291
Bank Forward 122 3rd Ave, Wimbledon, ND 58492 +1 (701) 435 - 2411

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Edinburg, ND, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Bismarck, ND, Payday Loans in Fargo, ND, Bad Credit Loans in Grand Forks, ND, Short-term Loans in Minot, ND and Quick Loan in West Fargo, ND. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Edinburg, ND.

Payday Loans Available in Edinburg, ND By The Following ZIP Codes:

58227

Are Payday Loans Legal In Edinburg, North Dakota?

Loan Rates and Fees, Laws and Regulations in North Dakota.

North Dakota is a state where payday lending is legally allowed. This means that you can take out payday loans with high interest rate and rollovers - but there are other states in the USA where these issues are regulated by law. If you no longer want to use payday loans, avoid taking out too many financial contracts - as this can cause negative consequences.

North Dakota Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)487
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term60 days
Number of Rollovers Allowed1
Finance Charges20% of the amount advanced

Edinburg, ND payday loan calculator

Payday loans in Edinburg, North Dakota: All You Need to Know

Whether it’s an unexpected expense or an emergency that requires immediate attention, payday loans in Edinburg, North Dakota can be a valuable resource. If you’re considering taking out a payday loan, it’s essential to understand the basics, from the loan’s structure to the regulations surrounding them. Here’s everything you need to know to make an informed decision.

What are payday loans in North Dakota?

A payday loan is a small, short-term loan that you repay by your next payday. Payday loans are often used for unexpected expenses such as car repairs or medical bills, which may need attention before your next paycheck arrives.

North Dakota law permits payday loans, but there are restrictions that payday lenders must adhere to, including

  • The maximum loan amount must be no more than $500
  • The loan term should be between 14 and 60 days
  • Lenders can charge a maximum fee of 20% of the loan amount, plus $20.
  • The annual percentage rate (APR) on a 14-day, $100 loan is capped at 520%.

These regulations are in place to protect borrowers from being charged excessive fees and interest rates.

How do payday loans in North Dakota work?

When you apply for a payday loan in North Dakota, you’ll need to provide the lender with proof of income and a checking account. If you’re approved for a loan, the lender will deposit the funds into your checking account, and you’ll be required to repay the loan plus any fees and interest on your next payday.

In some cases, payday lenders allow you to roll over your loan, meaning you extend the loan term in exchange for an additional fee. However, it’s essential to be cautious with this option, as rolling over your loan can lead to a cycle of debt that’s difficult to escape.

What are the benefits of payday loans in North Dakota?

The primary advantage of payday loans in North Dakota is their accessibility. Unlike traditional loans that may require an excellent credit score or extensive paperwork, payday loans are often available to borrowers with less than perfect credit. Additionally, payday lenders can often provide funds more quickly than traditional lenders, making them a useful resource if you’re facing an emergency expense.

What are the drawbacks of payday loans in North Dakota?

While payday loans in North Dakota can be a valuable resource, they also come with some drawbacks. One of the most significant disadvantages is the high fees and interest rates associated with these loans. Because payday loans are short-term and often provided to borrowers with less than perfect credit, lenders are likely to charge higher fees to offset the risk. Additionally, the short repayment term can make it difficult to repay the loan without rolling it over, leading to a cycle of debt.

Interesting Facts and Statistics about Payday Loans in Edinburg, North Dakota

  • As of 2021, there are approximately eight payday lending storefronts in North Dakota.
  • In 2019, North Dakotans took out approximately 120,000 payday loans, with an average loan amount of $425.
  • The total fees paid on payday loans in North Dakota in 2019 were over $17 million.
  • North Dakota has one of the lowest payday loan interest rates in the country, capped at 20% plus $20.

Apply Now

If you’re considering a payday loan in Edinburg, North Dakota, TheGuaranteedLoans may be able to help. As a connector service, we work with a network of potential lenders and can help you find a lender that meets your needs. Fill out our online application today, and we’ll facilitate the process of connecting you with a potential lender.

Remember, payday loans can be a valuable resource for unexpected expenses, but they come with risks and should be used responsibly. Be sure to understand all the fees, terms, and conditions before borrowing, and never borrow more than you can reasonably afford to repay.

F.A.Q.

Can borrowers file complaints against payday lenders in Edinburg, North Dakota if they feel they have been treated unfairly or illegally?

Yes, borrowers can file complaints against payday lenders in Edinburg, North Dakota if they feel they have been treated unfairly or illegally. Complaints can be filed with the North Dakota Department of Financial Institutions, which is responsible for regulating the payday lending industry in the state.

Can payday lenders garnish a borrower's wages if they default on a payday loan in Edinburg, North Dakota?

Yes, payday lenders can garnish a borrower's wages if they default on a payday loan in Edinburg, North Dakota. In order to garnish wages, the lender must first obtain a court judgment against the borrower and then request permission from the court to garnish the wages.

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