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North Dakota

This state may be small in terms of population with only 699,628 residents but it’s big in terms of its economy with an unemployment rate of just 2.6%, making it number one in the nation. North Dakotans have an average credit score of 715 and average credit card debt of $6159. This is somewhat higher than the US average credit card debt per borrower of $5235.

North Dakota’s median household income is $47,627 or approximately $3300 less than the U.S. median household income of $51,017. The state’s total labor force is just 403,290 but that makes sense given its total population of less than 700,000. This means that about 58% of North Dakotans have jobs.

Homeownership in North Dakota is 67.1%. This makes it several points less than Ohio or Kentucky. It is comprised of 68,975 square miles making it the nation’s 17th in size.

The state’s three largest cities are Fargo, Bismarck and Grand Forks. While Fargo’s unemployment rate is 2.9%, Bismarck is even better at 2.1%. However, Grand Forks has a somewhat higher unemployment rate of 3.6%. Fargo’s population is 105,549. The population of Bismarck is 61,272. And Grand Forks’ population is 52,838.

Of North Dakota’s total labor force, 58,628 workers are employed in Office and Administrative Support Occupations. The state’s second largest labor segment is Sales and Related Occupations with 41,130 employees. And third is Construction and Extraction Occupations with 38,220 workers. This segment ranks third due to the states’ oil boom. In fact, the Williston Basin of North Dakota has become one of the country’s richest areas for oil and gas exploration, thanks to new drilling techniques and what could be the country’s biggest oil discovery in the past 40 years.

Famous North Dakotans include basketball coach Phil Jackson, bandleader Lawrence Welk, author Louis L’Amour and actress Angie Dickinson. The town of Rugby, North Dakota is the geographical center of North America – not to be confused with Lebanon, Kansas, which is considered to be the geographic center of the contiguous United States. And the town of Westhope, which is located on U.S. Highway 83, is a Port-of-Entry into Canada. Each year more than 72,000 vehicles cross the border at this point.

Credit Card Debt Reduction in North Dakota

North Dakota Debt Reduction and Debt Relief Laws

Looking for debt relief in North Dakota? Our debt consultants are always ready to speak with you and give you a free consultation – you can call now to see if you qualify:

(888) 703-4948

One way to reduce your debt in North Dakota is with debt settlement. Debt negotiation is a great program for reducing your debts with your creditors into one low monthly program payment. This method works because you pay less yet the creditor still recovers some of their loss had you gone bankrupt.

However, you may not have to even apply for credit card debt negotiation if the statute of limitations is up in your state and the debt no longer appears on your credit report. Legally, credit companies must recover the debt in a period of time specified by the state or the debt is no longer recoverable after this time period. Read on to find out if the statute of limitations is up for you.

Debt Collection

(This is intended to be a helpful and informational debt resource for North Dakota consumers and does not constitute legal advice.)

North Dakota follows the set of federal laws dealing with collection agencies (and law firms that collect debts) that are collectively known as the Fair Debt Collection Practices Act (FDCPA).

Maximum Interest Rate a Collection Agency Can Charge in North Dakota: 6%

North Dakota Wage Protection: 75% of disposable weekly earnings (after tax income) or 40 times federal hourly minimum wage.

Statute of Limitations

A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in California but currently live in North Dakota, the applicable statutes of limitations would be California’s).

Oral Agreements: 6 years
Written Contracts: 6 years
Promissory Notes: 6 years
Open Accounts (credit cards): 6 years

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Whether you have unsecured credit cards, medical bills, personal loans or collection accounts, there’s help for you. The National Debt Relief Group offers a free consultation. You can fill out our Short Application and one of our debt specialists will contact you within minutes, or you can call now – (888) 703-4948.

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