Installment Loans in North Dakota

Steps

1. Submit one request through LendUp or contact a licensed lender directly.
2. Gather your government-issued ID, proof of income (such as paystubs or benefit letters), and your bank account details for direct deposit and repayment.
3. Review offers for the total repayment amount, the full payment schedule, and any fees withdrawn from your account automatically.
4. Before you sign, confirm your first payment date and the complete payment schedule, then save a copy of the signed agreement.

What to expect

• Credit check: Many lenders use a hard or soft credit check, or review your bank transactions. Ask which type they use before you submit.
• Payment schedule: Confirm whether payments are monthly or biweekly so you can match them to your paydays.
• Timing: Funds are commonly sent by direct deposit, often within one business day of approval. If a debit card or paper check is offered instead, confirm any delivery fees in writing.
• North Dakota disclosure requirement: Licensed money brokers in North Dakota must provide a written loan disclosure statement before you sign, itemizing all fees and the total amount you will repay.

Before you share your Social Security number or bank details, confirm the lender holds an active Money Broker license with the North Dakota DFI.

1. Open NMLS Consumer Access and enter the lender's legal business name in the search box. Try the "doing business as" (DBA) name if the legal name doesn't appear.
2. Filter results by selecting North Dakota as the regulator and look for the license type Money Broker.
3. Confirm the license status shows Approved and that the NMLS ID on the offer matches the record.
4. If the lender claims an exemption (such as a federally chartered bank or credit union), verify through the DFI directly.

To report an unlicensed lender or a misleading offer, file a complaint with the North Dakota DFI.

Your rights in North Dakota

• Written disclosure before signing: You have the right to receive a written loan disclosure statement itemizing all fees, the interest rate, and the total repayment amount before you are obligated to the loan.
• No advance fees: A licensed money broker cannot collect any fee from you before your loan is funded. Any upfront fee demand is a violation.
• Prepayment: You may pay off your installment loan early. Confirm with the lender in writing how unearned interest or fees are calculated if you pay ahead of schedule.
• Criminal threats prohibited: North Dakota prohibits lenders from threatening criminal prosecution to collect on a consumer loan. If someone threatens arrest over a missed payment, report it to the DFI immediately.

Walk away if

• Upfront "processing" or "insurance" fees are required before you can receive the loan.
• The lender shows only the monthly payment and won't provide the total repayment amount in writing.
• Blank spaces appear on the agreement, or the payment schedule is missing dates and amounts.
• Automatic withdrawals are required from a prepaid card or someone else's bank account.
• You're pushed to sign without time to review the final numbers you'll repay.

If the payment doesn't fit your budget, consider Alternatives, and review Scams and safety before you share personal info.