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North Dakota Commercial Collection Agency


AAB is a North Dakota commercial collection agency that specializes in commercial debt collection. AAB collects NDcommercial debt and here are some facts to consider when you are selecting North Dakota collection agency.

AAB covers all of North Dakota or ND and our collection agency handles commercial North Dakota debtors in Bismarck, Fargo, Grand Forks, Minot and other cities in Hawaii.

A collection agency must be licensed in North Dakota to collect debt. In the case of excessive interest rates: if a loan agreement contains interest rates over 12%, then most likely the court deem the entire agreement, as an illegal contract.

North Dakota also has laws covering the late charges permitted on commercial accounts above and beyond the interest charge on the account. The late charge cannot be more than 1 ¾ of the past due balance on the account. However, in order for this late charge to legally acceptable, it must be disclosed and revealed prior to the time that the account in question is opened. Moreover, an account cannot be deemed past due until a net term or 30 days has elapsed in North Dakota.

Below there are summary points on North Dakota regulations and Laws that affect a North Dakota collection agency. These points should be considered when contemplating listing commercial debt for collection with a North Dakota commercial collection agency.

North Dakota Collection Laws



NOTE: The North Dakota commercial collection guidelines below are summary in nature and subject to change. While we make every effort to insure accuracy, the information below should not be considered legal advice or to be one hundred percent accurate. No warranty is expressed or implied and AAB assumes no liability for its use.

North Dakota Collection Interest Rates



North Dakota Legal Rate: 10 %
North Dakota Corporate Rate: No special rate
Contract Rate: 5.5% per annum higher than the current cost of money as reflected by the average rate of interest payable on United States treasury bills maturing in six months in effect for North Dakota for the six months immediately preceding the month in which the transaction occurs, as computed and declared on the last day of each month by the state banking commissioner, but that in any event the maximum allowable interest rate ceiling may not be less than seven percent, and in the computation of interest the same may not be compounded; provided, however, that a minimum interest charge of fifteen dollars may be made. A contract may not provide for the payment of interest on interest overdue, but this section does not apply to a contract to pay interest at a lawful rate on interest that is overdue at the time such contract is made. Any violation of this section is deemed usury. Note: There are exceptions to above in North Dakota.
Judgment: 12%
Usury % Cap: See Contract Rate

A North Dakota commercial collection agency can only charge interest at the rates above.

North Dakota Statute of Limitations



North Dakota Contracts (Oral): 6 Years
Written Contract: 6 Years
Judgment: 10 Years

Bad or NSF Check collection charges in North Dakota


North Dakota requires creditors to send a Notice of Dishonored Instrument. Maximum collection fees or costs are $35 per instrument or a maximum of $500 for multiple instruments in North Dakota.

North Dakota Collection Agency Laws


North Dakota State Licensing: Required to solicit or receive payment
Agency Bond: YES - $20,000 with a minimum net worth of $25,000
Trust Account: Required
State Fees: Numerous $50 to $300

Information above on commercial collections and the North Dakota Collection Agency Laws is provided to help potential Clients looking for a commercial collection agency in North Dakota. We encourage potential Clients to request a free quote on the commercial solutions offered by our North Dakota Commercial Collection Agency.
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North Dakota Cities

Bismarck, ND
Fargo, ND
Grand Forks, ND
Minot, ND