Wisconsin State – Payday Loans Information

Payday loans Wisconsin are made by payday loan stores, check cashers, and pawn shops. Some rent-to-own companies also make payday loans. Loans are also marketed via toll-free telephone numbers and over the Internet. All a consumer needs to get a payday loan is an open bank account in relatively good standing, a steady source of income, and identification. Lenders do not conduct a full credit check or ask questions to determine if a borrower can afford to repay the loan.

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

Call for Cash: +1 (855) 462-5019

State Regulator

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