Wisconsin Payday Loans Law

Wisconsin Payday Loans Law

Wisconsin State Information

Legal Status: Legal

Loan Terms:

    - Maximum Loan Amount: Lesser of $1,500 including fees or 35% gross monthly income
    - Loan Term: 90 days or less
    - Maximum Finance Rate and Fees: No Limit
    - Finance Charge for 14-day $100 loan: No Limit
    - APR for 14-day $100 loan: No Limit

Debt Limits:

    - Maximum Number of Outstanding Loans at One Time: No Limit
    - Rollovers Permitted: Yes, one renewal
    - Cooling-off Period: 24-hours after paying renewed loans
    - Repayment Plan: Yes (4 equal installments; one payment plan offer per 12 months.)

Collection Limits:

    - Collection Fees: $15 NSF fee, check presented once
    - Criminal Action: Prohibited

Where to Complain, Get Information:

    - Regulator: Wisconsin Department of Financial Institutions
    - Address: Wisconsin Consumer Act Section, P.O. Box 8041 Madison WI 53708
    - Phone: (608) 264-7969
    - Fax: (608) 264-7968

These Wisconsin payday loans law are basic information to assist your decision to borrow money. This information may be added or modified or canceled by Wisconsin government without prior notice.