Personal Loans in Wisconsin:

Wisconsin Payday Loan Laws and Wisconsin Loan Regulations

Legal Status: Legal

Citation: Wis. Stat. 138.14

Wisconsin State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, ChecknGo.com, QLoot.com, SpeedyCash.com
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, no additional cost. Limit one payment plan offer per 12 months.

Collection Limits:
Collection Fees: $15 NSF fee , check presented twice
Criminal Action: Prohibited (per Wisconsin worthless check law, a check given to secure a loan isn't "worthless")

State Regulatory Agencies for Payday Loans:

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
Regulatory Contact:
Wisconsin Department of Financial Institutions
Licensee Lists
How To File A Complaint
Online Resources:
Deferred Deposit Loans
Predatory Lending

The cost of a personal loan:

The cost of a personal loan

Personal Installment Loan Basic Terms:

  • Loan Amount: $1,000 - $10,000
  • Interest Rate: 25% - 95%
  • Lending Period: 12 Months-36 Months
  • Payment Frequency: Bi-Weekly or Monthly
  • The actual APR will be applied based on credit score and repayment history
  • No prepayment penalties or additional charges for early payments
  • The option to pay the loan in full before the due date and only pay the interest rate for the period the loan was outstanding

Installment Loan Examples:

The table below will display a representation of different loans with an annual interest rate of 35%*. Interest rates are set after assessing each customer's credit worthiness through traditional credit checks.

Borrowed Amount Loan Period Monthly Payments Total Payable Amount
$2,000 12 Months $199.93 $2,399.16
$4,000 24 Months $234.07 $5,617.68
$6,000 36 Months $271.41 $9,771.12
$8,000 36 Months $361.89 $13,028.04

* The interest rate displayed in the examples table above is only representative. Not all customers will be eligible for a loan with the lowest interest rate. The APR and loan amount is determined by several factors such as: credit history, employment history, even state law.

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