Legal Status
Legal
Citation
Wisc. Stat. Ann. § 138.14
Loan Terms
Maximum Loan Amount: Less of $1,500 or 35% of 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: Cannot exceed max loan amount. Wis. Stat. § 138.14
Rollovers Permitted: Yes, one. Wis. Stat. § 138.14
Cooling-off Period: 24 hours after repaying renewed loan. Wis. Stat. § 138.14
Repayment Plan: Yes. Once per 12 months the chance to make 4 equal payments with due dates coinciding with the lendee's pay period schedule. Wis. Stat. § 138.14
Collection Limits
Collection Fees: Dishonored check fee of $15. Wis. Stat. § 138.14
Criminal Action: No. Wis. Stat. § 138.14