The Best North Dakota Debt Consolidation Companies of 2020

For North Dakotans struggling with credit card, student, medical, payday or other types of debt, you can rest assured you’re not alone. Though The Peace Garden State has a booming economy with 3.9% GDP growth, and a extremely low unemployment rate of 2.2% (#1 lowest in the US), many North Dakota residents have been left behind. In fact, 11.90% of residents live in poverty, and many struggle with debt

The average North Dakotan has $3,788 in personal debt, plus $162,702 of mortgage debt per capita. On average, residents have an open credit card balance of $6,117 and – of residents have a student loan, the average amount of which is -. Each year approximately 703 North Dakotans declare bankruptcy. If this is you, there are North Dakota debt consolidation options to help you get back on track financially.

So whether you live in Fargo, Bismarck, Grand Forks, or somewhere in-between, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in North Dakota (updated 2020)

Finding a legit debt consolidation firm can be tough. We’ve done the research and picked the [n] best debt consolidation firms in the state of North Dakota. Our criteria includes online reputation, breadth of services offered, and demonstration of expertise. All have at least an A rating with the Better Business Bureau.

No companies found that meet criteria

North Dakota Debt Statistics

Total Debt$2,885,664
Debt Per Capita$3,788
Debt Per Capita Rank19

Source: World Population Review

North Dakota Credit Card Debt Statistics

Average Credit Card Balance686
Average Credit Score$6,117
Avg Credit Card Balance Rank (1 = Highest Balance)26
Avg Credit Score Rank (1=Highest Score)20

Source: Experian

Mortgage Debt in North Dakota

Mortgage Debt Per Capita$162,702
Avg 30 yr Mortgage Rate4.00%
Avg 15 yr Mortgage Rate3.45%
Median Home Value$210,000
Avg Outstanding Mortgage Debt$162,774
Difference Between Value and Mortgage Debt$47,226
Avg Homeowner FICO Score727

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in North Dakota

Payday Loan Legal StatusLegal
Max Payday Loan Amount500
Max Payday Loan Term60 days
Max Payday Loan APR48700%

Source: North Dakota Government Website

Unemployment and the Economy of North Dakota

Poverty Rate – Population11.90%
Poverty Rate – Population – Rank41
Poverty Rate – Family7.30%
Poverty Rate – Family – Rank48
Unemployment Rate (March 2020)2.2
Unemployment Rank1
GDP Growth3.9
GDP Growth Rank4

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in North Dakota

Percent of Population with Student Loans
Average Student Loan debt
Average Debt of New Graduates (2017-18)nan
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)nan
Percent with Debt Ranknan
Usable Institutions (BA-Granting)5
Percent of Graduates at Schools with Usable Data21%
Nonfederal debt of graduates, as percent of total debtnan
Fall enrollment – Undergraduate total (IPEDS)46,476
Tuition and Fees (in-district/in-state)$8,078
Total Cost of Attendance (on-campus)$20,353
Percent of Institutional Grants that are Need-Based57%

Source: Value Penguin, TICAS

Cost of Living in North Dakota

Annual Mean Wage (All Occupations)$49,620
Median Monthly Rent$1,290
Value of a Dollar$1.09
Cost of Living98.8
Cost of Living Rank28
Grocery Cost Index108.1
Housing Cost Index90.3
Utilities Cost Index93.6
Transportation Cost Index104.3
Miscellaneous Cost Index111.7

Source: World Population Review