Debt Settlement in North Dakota

Pioneer Family Statute in front of the North Dakota state capitol building in Bismarck


Debt Relief Strategies Used in North Dakota

Here are brief descriptions of 5 commonly utilized strategies for relieving debt.

1. Repay debt with minimum monthly payments

Many consumers feel as though they can make some progress toward repaying a debt if they pay the minimum required amount monthly. This is often the worst strategy for relieving a debt as it takes longer and can cost a lot more in interest in the long run.

2. Debt Management or Credit Counseling in North Dakota

A credit counseling program is a form of debt management that involves working with a counseling agency to organize your repayment plan. Most often, a single monthly payment is made to the counseling agency who then distributes the funds to creditors on your behalf, ideally while securing a lower interest rate so the debt can be repaid faster. With this type of debt relief program, you still end up paying back 100% of the principal debt and the accrued interest. On average, a credit counseling program can take up to 3-5 years to complete, but the advantage is that they are mostly offered for free.

3. Debt Consolidation Loans

Debt consolidation is a form of debt relief where you take out a low-interest loan use that capital to repay other unsecured debts that have higher interest rates. Theoretically, this leaves you making a lower, single monthly payment that can be easier to handle on a month-to-month basis. The disadvantage with consolidation loans is that they can be hard to qualify for without great credit and some will bounce the interest rate back to a high percentage if the debt is not repaid within the promotional window.

4. North Dakota Debt Negotiation or Debt Settlement

Debt settlement is a form of debt relief that differs from the first two in that it can reduce the principal balance of owed debt in addition to lowering the interest rates. With up to 50% of the debt expunged, debt settlement can generally be a faster and less expensive debt relief option when compared to either debt counseling or debt consolidation.

5. Bankruptcy.

Declaring bankruptcy in North Dakota halts the process of creditor collection and the debtor is relieved of some or all of their unsecured debts, but their ability to borrow money is severely hindered for years after.


Figure Out What’s Best for Your Finances


Are you burdened by a legitimate financial hardship condition?


A sudden loss of income, medical issues, or going through a divorce/separation are some of the most common ways that North Dakota consumers are finding themselves in trouble with debt. Each of these are legitimate financial hardships that can happen to anyone through no fault of their own, but nonetheless, any one of them can cause serious instability for your household budget.


If your finances are in deep water because of a hardship circumstance and you’d prefer not to have to file for bankruptcy, then North Dakota Debt Settlement could be a viable solution to reduce your debt and help you get back on track.


Are you committed to getting out from under your debt?


The Debt Settlement system is not a “free ride” for people who simply want to avoid paying their bills – It is an aggressive strategy for relieving debt that can present an occasional challenge. Your ability to commit to staying the course, even when the road gets a little bumpy, is often the most important factor in determining how successful your efforts are. For those who are willing to see it through to completion, a debt settlement program can get you back in the green faster and for a lower cost than just bout every other form of debt relief in North Dakota.

Are your debts primarily from credit cards?

A majority of unsecured debts can be negotiated down through settlement including miscellaneous bills, repossession deficiencies, financing contracts, lines of credit, department store cards, signature loans, and more. But the largest debt reductions are usually obtained from credit card accounts; so, if the bulk of your debt is from credit cards, you can often expect a good outcome for debt settlement.

Get Informed

How Does Debt Settlement Work?

North Dakota state flag painted on piggy bank

Debt Settlement is a form of debt relief that reduces principal debt balance and interest rates through negotiation with creditors. Successful settlements can reduce the total debt principal by up to 60% on top of slowing the rate at which interest is accruing. This is different from Debt Consolidation and Credit Counseling which only affect interest rates and not the debt balance.

So, why would creditors be willing to accept less than the total amount they are owed? Many credit establishments are willing to settle for less because even receiving 50% of the principal is better than losing 100% of the debt if the debtor decides to file for bankruptcy.


You can include the following types of debt in a New Era Debt Settlement Program:


  • Private student loans in default
  • Credit cards
  • Old judgments
  • Department store cards
  • Signature loans
  • Personal lines of credit
  • Old repossessions
  • Other unsecured debts


The following types of debt do not qualify:


  • Credit Union debts
  • Car loans
  • Home mortgages
  • Federal student loans
  • Other secured debts
  • Medical / Hospital bills


North Dakota Debt Settlement Services by City


  • Fargo Debt Settlement
  • Bismark Debt Settlement
  • Grand Forks Debt Settlement
  • Minot Debt Settlement
  • West Fargo Debt Settlement
  • Williston Debt Settlement
  • Dickinson Debt Settlement
  • Mandan Debt Settlement
  • Jamestown Debt Settlement
  • Wahpeton Debt Settlement


This list is not exhaustive. Be sure to check with your North Dakota debt counselor.


Can I Trust New Era?


By asking these 14 important questions, you can separate the good settlement firms from the bad ones. It’s also always a good idea to check the Better Business Bureau (BBB) to see the company’s average rating and complaint history with other North Dakota consumers.

New Era Debt Solutions has an A+ with the Better Business Bureau and has been helping North Dakota consumers become debt-free since 1999. We’ve settled over $275,000,000 in debt and worked with thousands of clients from states around the country. Check out our Testimonials page to learn more.


Here’s what makes New Era different:


 No Upfront Fees. As per an FTC ruling effective October 27, 2010, a Debt Settlement company cannot charge you any fees unless or until they settle your debt. Period. At New Era, we never charge upfront fees for a settlement service.

  • No “add-on” fees. Some North Dakota settlement companies try to get around the law by charging consultation fees, administrative fees, signing fees, and other various excuses to get extra funds from your pocket. Good-guy debt settlement companies, such as New Era, only charge a post-settlement fee.
  • End-to-end service. Some “debt settlement” agencies are just sales groups who find settlement leads and then pass them off to a separate firm to handle the settlement. This creates a problem where your sensitive financial data is being passed around between multiple entities and the salesperson has no control over – or sometimes even interest in – how your debt is actually settled in the end. Look for a company, such as New Era, that will handle your program from start to finish.
  • Years of Experience. Many new debt settlement companies headed by prior mortgage industry professionals suddenly popped up when the sub-prime mortgage industry crashed in the 2000’s. These newer settlement companies do not have nearly the experience or the relationships that lead to your best settlement deals. Look for companies who have been around long enough to amass a solid settlement track record. For example, New Era has settled more than $275,000,000 in debt for our clients in the 20+ years we’ve been in business.

Get Started with North Dakota Debt Relief

New Era negotiators are experts at getting you some awesome deals in North Dakota, but the offers don’t last forever. The most successful debt settlement clients in North Dakota are ready and willing to respond immediately.

Consumers in North Dakota can get a FREE analysis of their debt today. See how much time and money you can save with the right form of debt relief. Contact New Era Debt Solutions to get started.