Current Payday Lenders in Wisconsin – Terms, Rates, Legislation

The list of payday lenders in Wyoming

1. Rise Credit
  - Website: risecredit.com
  - Address: P.O. Box 679900 Dallas, TX 75267-9900
  - Service: Online
  - States: Alabama, California, Delaware, Georgia, Idaho, Illinois, Missouri, New Mexico, North Dakota, Ohio, South Carolina, South Dakota, Texas, Utah, Wisconsin
2. NHCash.com
  - Website: https://www.nhcash.com/
  - Address: 169 South River Road, Suite #19, Bedford, New Hampshire, 03110
  - Service: Online
  - States: Delaware, Idaho, Kansas, Michigan, New Hampshire, Tennessee, Utah, Wisconsin
3. OpenCashAdvance
  - Website: https://opencashadvance.com/
  - Address: 30 N GOULD ST, STE R, Sheridan, WY 828010
  - Service: Online
  - States: Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming
4. Cash Central
  - Website: https://www.cashcentral.com/
  - Address: 5165 Emerald Parkway, Suite 100, Dublin, OH 43017
  - Service: Online
  - States: Washington, Idaho, North Dakota, Minnesota, Wisconsin, Delaware, Wyoming, California, Nevada, Utah, Kansas, Missouri, Tennessee, South Carolina, Florida, Alabama, Mississippi, Lousiana, Texas, New Mexico, Alaska
5. Check Into Cash
  - Website: checkintocash.com
  - Address: 201 Keith Street, Suite 5 Cleveland
  - Service: Online/Offline
  - States: Alabama, Alaska, California, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Kansas, Louisiana, Mississippi, Missouri, Nevada, Oklahoma, Oregon, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming
6. Check City
  - Website: https://www.checkcity.com/
  - Address: 970028, Orem, UT 84097
  - Service: Online/Offline
  - States: Alabama, Alaska, California, Colorado, Hawaii, Idaho, Kansas, Missouri, Nevada, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming
7. GreenDayOnline
  - Website: https://greendayonline.com/
  - Address: 15727 Anthem Pky San Antonio, Suite No#45 ,TX 78249
  - Service: Online
  - States: Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Wisconsin, Wyoming

Website: https://1firstcashadvance.org/
Address: 1942 Broadway St., STE 314C, Boulder, CO 80302
Service: Online
States: California, Colorado, Florida, Illinois, Michigan, Missouri, New-Jersey, Ohio, Tennessee, Texas, Wisconsin, Washington, Oklahoma, Kansas, Kentucky, Pennsylvania, Oregon

Are payday loans legal in Wisconsin?

Payday loans in Wisconsin are legal. The state fixes no limit to the a payday loan amount or its interest rate. However, non-repaid loans should not be over $1,500 that is equal to 35% of the client’s gross income per income. It is allowed to issue 2 renewals at once. NSF fee should not go beyond $15 in Wisconsin. Criminal proceedings are disallowed.

Takeaways:

Max loan term: 90 days
Average loan amount: $550
Maximum loan amount: $1,500 (or 35% of the gross monthly income)
APR cap: None, average of 574%
Number of payday lenders in Wisconsin: 227
Average 14-day payday loan APR: 574%
Collection fees: 2.75% interest fee + a $15 NSF fee
Poverty rate in Wisconsin: 10.4%

Am I eligible for a payday loan in Wisconsin?

There are some basic requirements to qualify for a payday loan in Wisconsin:

Age – at least 18 years of age;
Citizenship: a US citizen, a permanent resident, with a verifiable residential address in Wisconsin;
Personal contact information: your name, Social Security Number, and home phone number, an email address to receive repayment notifications;
Bank account: an active bank account that was issued in your name to get deposited;
Proof of income and employment (if required).

Payday loan amounts in Wisconsin

Cash advance amount should not be over 35% of gross monthly income or $1,500 plus fees. The minimum loan amount is not specified.

Maximum term for a payday loan in Wisconsin

A payday loan in WI should not be issued for a period of over 90 days;
It is allowed to get two loan renewals;
There are no limits to the number of loans a person can take with the term. There should be a 24-hour cooling-off term after paying renewed loans back.

Rates, fees and other charges in WI

There is no limit to the interest rate that is permitted to withdraw by a lender, so long as it is imposed prior to the loan’s due date.

Key notes:

APR & fees: The maximum rate for $250 is equal to 15% of the total amount, $251 – $400 = 13%, $400-$500 = 10%. The APR for a 14 day $100 loan is $390.
Collection: Wisconsin payday loans can charge up to $25. There could be extra fees for fraudulent transactions.

What is the statute of limitations on a payday loan in Wisconsin?

Payday loans are not strictly controlled in Wisconsin. There are no set limits on the amount or its interest rate. The total amount of outstanding loans cannot be over $1,500 or 35% of the client’s gross monthly income. Wisconsin allows for 1 rollover per a loan. It inputs a 24-hour cooling-off period between several unique loans.
Extra fees in Wisconsin are a maximum 2.75% interest rate per month if the borrower has not paid back in full prior to the due date. NSF fees are limited to $15.
Payday lenders must be licensed in order to operate and serve in the state, regardless if they are either online or offline. Despite the loyal regulations, Wisconsin does have guidelines for lenders to follow them, though they are not characterized as officially-accepted laws. These notes containing the following: to educate clients on how payday loans work and cover all extra fees. Payday loans are regulated by the Wisconsin Department of Financial Institutions.

Consumer information

NSF fee being over $15 is not allowed;
In Wisconsin, any criminal action against the borrower is banned.

Online Payday Personal Consumer Loans up to $2,500