Wisconsin Payday Loan Laws and Regulations

Find out if short-term Payday Loans are legal in Wisconsin and what amounts, interest rates and repayment terms are set by the state's Legislation.

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payday loans Rates and Terms

State Legal Status Maximum Loan Amount Minimum Loan Amount Maximum Loan Term Minimum Loan Term Repayment Term Maximum APR Minimum APR Average APR Finance Charges Cooling-off Period
Alabama Legal $500 $100 31 day(s) 10 day(s) 10-31 days 456.25% N/A 300.00% 17.5% of the amount advanced 1 business day
Alaska Legal $500 N/A N/A 14 day(s) N/A 520.00% N/A N/A 15% of the amount advanced 14 business days
Arizona Available (with some restrictions) N/A N/A N/A N/A N/A 36.00% N/A N/A N/A N/A
Arkansas Illegal N/A N/A N/A N/A N/A 17.00% N/A N/A N/A N/A
California Legal $300 N/A 31 day(s) N/A up to 31 days 460.00% N/A N/A 15% of the amount advanced None
Colorado Legal $500 N/A N/A 180 day(s) N/A 36.00% N/A N/A <$300 = 20$ 
>$300 = 20$ + 7.5% of any excessive amount
None
Connecticut Illegal N/A N/A N/A N/A N/A 30.03% N/A N/A  $17 per $100 up to $600; $11 per $100 up to $1,800; add-on interest N/A
Delaware Legal $1000 N/A 60 day(s) N/A 60 N/A N/A 521.00% Not limited None
District of Columbia Available (with some restrictions) N/A N/A N/A N/A N/A 24.00% N/A N/A N/A N/A
Florida Legal $500 N/A 31 day(s) 7 day(s) 7 - 31 days 419.00% N/A 304.00% 10% for every $100 24 hours
Georgia Available (with some restrictions) N/A N/A N/A N/A N/A 10.00% N/A N/A N/A N/A
Hawaii Legal $600 N/A 32 day(s) N/A 32 days 459.00% N/A N/A Not more than 15% of the loan amount   N/A
Idaho Legal $1000 N/A N/A N/A N/A 652.00% N/A N/A N/A None
Illinois Legal $1000 N/A 120 day(s) 13 day(s) 13 - 120 days 403.00% N/A N/A $15.50 for $100 borrowed for 14 days 7 days
Indiana Legal $605 $50 30 day(s) 14 day(s) 14 - 30 days 390.00% N/A N/A $15 for $100 borrowed for 14 days 7 days after 6 consecutive loans
Iowa Legal $500 N/A 31 day(s) N/A up to 31 days 433.00% N/A 337.00%  $15: $0-$100 on face amount of check; $10 per $100 thereafter None
Kansas Legal $500 N/A 7 day(s) 30 day(s) 7 - 30 days 390.00% N/A N/A 15% of a loan None
Kentucky Legal $500 N/A 60 day(s) 14 day(s) 14 - 60 days 460.00% N/A N/A $15 per $100 on face value of check + $1 database fee None
Louisiana Legal $350 N/A 60 day(s) N/A up to 60 days 780.00% N/A 391.00% 16.75% of face-value of check, + $10 documentation fee (After default: months 1-12: 36% per year; months 13 and beyond: 18% per year) None
Maine Available (with some restrictions) $2000 N/A N/A N/A N/A 30.00% N/A N/A $5 for amounts financed up to $75; $15 minimum charge for amounts financed of $75.01-$249.99; or $25 for amounts financed of $250 or more N/A
Maryland Available (with some restrictions) N/A N/A N/A N/A N/A 33.00% N/A N/A N/A N/A
Massachusetts Available (with some restrictions) N/A N/A N/A N/A N/A 23.00% N/A N/A N/A N/A
Michigan Legal $600 N/A 31 day(s) N/A up to 31 days 390.00% N/A N/A 15% - 11% of the loan amount None
Minnesota Legal $350 N/A 30 day(s) N/A up to 30 days 390.00% N/A 200.00%  $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350 (After default: 2.75% per month) N/A
Mississippi Legal $500 N/A 30 day(s) N/A up to 30 days 520.00% N/A N/A Under $250: $20 per $100 advanced; $250-500: $21.95 per $100 advanced N/A
Missouri Legal $500 N/A 31 day(s) 14 day(s) 14 - 31 days 1950.00% N/A 443.00% maximum 75% of the initial loan amount  None
Montana Legal $300 $50 31 day(s) 14 day(s) 14 - 31 days 36.00% N/A N/A $1.39 for a $100 loan given for 2 weeks None
Nebraska Legal $500 N/A 34 day(s) N/A up to 34 days 460.00% N/A N/A  $15 per $100 None
Nevada Legal N/A N/A 35 day(s) N/A up to 35 days N/A N/A N/A N/A N/A
New Hampshire Illegal $500 N/A 30 day(s) 7 day(s) 7 - 30 days 36.00% N/A N/A $1.38 for $100 FOR 14 days 60 days
New Jersey Available (with some restrictions) N/A N/A N/A N/A N/A 30.00% N/A N/A N/A None
New Mexico Available (with some restrictions) $2500 N/A 35 day(s) N/A up to 35 days 416.00% N/A N/A $15.50 per $100 and a $0.50 verification fee per $100 10 days
New York Illegal N/A N/A N/A N/A N/A 25.00% N/A N/A N/A N/A
North Carolina Available (with some restrictions) N/A N/A N/A N/A N/A 36.00% N/A N/A N/A N/A
North Dakota Legal $500 N/A 60 day(s) N/A up to 60 days 520.00% N/A N/A 20% of the amount advanced 3 days
Ohio Legal $1000 N/A 91 day(s) 365 day(s) 91 days - 1 year 28.00% N/A N/A 28% 90 days
Oklahoma Legal $500 N/A 45 day(s) 12 day(s) 12 - 45 days 390.00% N/A N/A <$300 = $15
>$300 = $10 for every additional $100
2 business days after 5 consecutive loans
Oregon Legal $50000 N/A 60 day(s) 31 day(s) 31 - 60 days 36.00% N/A N/A 36% APR 7 days
Pennsylvania Available (with some restrictions) N/A N/A N/A N/A N/A 6.00% N/A N/A N/A N/A
Rhode Island Legal $500 N/A N/A 13 day(s) not shorter than 13 days 260.00% N/A N/A 10% of the amount advanced None
South Carolina Legal $550 N/A 31 day(s) N/A up to 31 days 390.00% N/A N/A 15% of the amount advanced 2 business days after 8 consecutive loans
South Dakota Illegal $500 N/A N/A N/A N/A N/A 36.00% N/A $1.39 for a $100 loan given for 2 weeks N/A
Tennessee Legal $500 N/A 31 day(s) N/A up to 31 days 459.00% N/A N/A 15% of the amount of the check 3 days
Texas Legal N/A N/A 180 day(s) N/A up to 180 days 410.00% N/A N/A >$30 = $1 for each $5
$30 – $100 = 1/10 of the loan amount + $3 /mo (<$35)
$35 – $70 = $3.50/mo + $4/mo (>$70)
>$100 = $10 + $4/mo for each $100
N/A
Utah Legal N/A N/A 70 day(s) N/A up to 70 days 658.00% N/A N/A N/A N/A
Vermont Illegal N/A N/A N/A N/A N/A 18.00% N/A N/A N/A N/A
Virginia Legal $500 N/A 30 day(s) N/A up to 30 days 687.00% N/A N/A 36% annual interest + $5 verification fee + 20% of loan 1 day
Washington Legal $700 N/A 45 day(s) N/A 45 days N/A N/A 390.00% <$500 = 15%;
>$500 = 10%
None
West Virginia Illegal $2000 N/A N/A N/A N/A 31.00% N/A N/A N/A N/A
Wisconsin Legal $1500 N/A 90 day(s) N/A up to 90 days 574.00% N/A N/A 2.75% a month 24 hours
Wyoming Legal N/A N/A 30 day(s) N/A N/A 780.00% N/A 260.00% $30 (or 20% per month) N/A
Legal Payday Loans Online for Wisconsin residents

Make yourself safe by studying the laws, rules and regulations concerning Payday Loans and other short-term cash advance in Wisconsin. Apply for a Safe Payday Loan from a legit direct lender.

Compare top legit Payday Lenders in Wisconsin:

LendYou will help you get the cash you need when you need it. You can apply for Payday Loans, Installment Loans or Personal Loans, etc. Compare the lenders and get matched with the best one.

  • MIN Loan Amount: $100
  • MAX Loan Amount: $35000
  • Terms: Varied
  • Rates and fees: Starting at 4.99% APR
  • Turnaround Time: 1 business day
  • $100 - $1000 Payday Loans
  • $1000 - $5000 Installment Loans
  • $5000 - $35000 Personal Loans
  • 18 years of age or older
  • U.S. citizenship
  • Valid checking or savings account with direct deposit
  • Minimum regular income of $1,000 per month
  • Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
Pros
  • High up to $15,000 loan amounts. 
  • Minimal restrictions on how you can use your loan.
  • No collateral or guarantor.
  • Bad credit is OK. 
Cons
  • It's not a direct lender, so you'll need to clarify rates and terms with the company you are matched with. 

 

Check Into Cash offers Payday Loans, Title Loans, Personal Installment Loans and other money products at affordable rates with convenient repayment. 

  • MIN Loan Amount: $50
  • MAX Loan Amount: $3000
  • Terms: Vary by state.
  • Rates and fees: 261% to 782% APR
  • Turnaround Time: 1 business day
  • Payday Loans
  • Online Payday Loans
  • Title Loans
  • Installment Loans
  • Online Installment Loans
  • Line of Credit
  • Flex Loans
  • Other Services
  • Check Cashing
  • Bill Pay
  • Western Union 
  • U.S. Money Card
  • Cell Phone Top-Ups
  • Sell Us Your Gift Cards For Cash
  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • 21+ years old (19+ in Alabama)
  • Social Security number (for Indiana residents only)
Pros
  • You can get even as low as $50.
  • Quick funding on the next business day.
  • Money can be used for any personal needs.
Cons
  • Not available in every state.
  • APR can be more than 153.73% depending on your state.
  • High late payment fees.

 

Greenlight Cash created an online platform to connect consumers like you with reliable lenders across the country. They partner with a large network of professionals so you get a chance to work with one of them and meet the challenge of improving your financial situation in the most effective way. Once you tap submit, you get one step closer to receiving the funds.

  • Payday Loans
  • Installment Loans
  • Personal Loans
  • be a legal U.S. resident
  • be at least 18 years old
  • have a stable source of income
  • be currently employed
  • have an active bank account
Pros
  • Unrivaled flexibility and accessibility.
  • Predictable monthly payments

  • Quick and simplified borrowing process

  • Any credit is welcome
Cons
  • Not a direct lender.

 

GoGoPaydayLoans offers Payday Loans at affordable rates with convenient repayment terms. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $1000
  • Terms: Vary by state.
  • Rates and fees: 261% to 782% APR
  • Turnaround Time: 1 business day

$100 - $1000 Payday Loans

  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • 21+ years old (19+ in Alabama)
  • Social Security number (for Indiana residents only)
Pros
  • You can get even as low as $100.
  • Quick funding on the next business day.
  • Money can be used for any personal needs.
Cons
  • Not available in every state.
  • APR can be more than 153.73% depending on your state.
  • High late payment fees.

 

Loan By Phone offers Payday Loans, Installment Loans and Line of Credit.

  • MIN Loan Amount: $100
  • MAX Loan Amount: $3000
  • Terms: Varied
  • Rates and fees: Vary by state
  • Turnaround Time: 1 business day
  • Payday Loans
  • Installment Loans
  • Line of Credit
  • 21 years of age
  • Social Security Number
  • Proof of Income (from your job, pension, welfare, or other source)
  • Valid email address
  • Active checking account (open for at least 90 days)
  • Current cell/home and work phone number
Pros
  • All loan applications and requests are guaranteed confidential and all transactions are governed in accordance with the laws of your state of residence.
  • Flexible repayment.
  • Available in most states.
Сons
  • High interest rates.
  • If you don't pay back on time your data may be sold to third parties.

 

Indyloan.com offers Personal Loans online at affordable rates with convenient repayment. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $5000
  • Terms: Vary by state
  • Rates and fees: Varied
  • Turnaround Time: 1 - 2 business day

Personal Loans

  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
Pros
  • Quick - no driving, waiting, faxing, paperwork.
  • High approval rate even for bad credit borrowers.
  • Online Payday cash advance with no collateral or co-signer.
  • 24 / 7 online service.
Cons
  • High interest rates.
  • Available not in all the states.
  • Only loans up to $5000 are available.

 

Table of Contents:

Are Payday Loans legal in Wisconsin?

Wisconsin Payday Loan Terms and Amounts

Wisconsin Payday Loans online laws

Wisconsin Payday Loans interest rates, fees and other finance charges

Wisconsin Payday Loans direct lenders regulations

Wisconsin Payday Loans consumer information

Legitimate Payday Loans online with NO credit check in Wisconsin

Does Wisconsin law allow Payday Loans for bad credit borrowers?

Legit Payday Loans in Wisconsin collection practices

Wisconsin Payday Loans news  - latest changes

Wisconsin Payday Loans historical background

Wisconsin Payday Loan alternatives

Are Payday Loans Legal in Wisconsin?

Short-term Payday Loans are Legal in the state of Wisconsin according to Wis. Stat. 138.14..

Chapter 138 Money and Rates of Interest.pdf

The Payday Lending legislation covers all the parts of the process concerning:

  • Payday Loan amounts
  • Payday Loan repayment terms
  • Payday Loan online direct lenders
  • Payday Loan stores near you
  • Payday Loan interest rates and other fees
  • Payday Loan collecting practices
  • Payday Loan default penalties
  • The number of outstanding Payday Loans as well as a cooling-off period in-between etc.

Read more: Payday Loans in Wisconsin

The main eligibility criteria to get approved for a Payday Loan in Wisconsin are:

  • A proof of income
  • At least 18 years of age
  • Wisconsin  residence
  • An active bank account
  • A valid phone number, or e-mail

Wisconsin allows maximum 90 day(s) Payday Loan amount. It should be repaid in maximum 90 day(s) days. The maximum APR of cash advance is 574.00%. For other details read further to find out how many Payday Loans you can borrow, whether rollovers or extensions are allowed, etc.

Wisconsin Payday Loan Terms and Amounts

Wisconsin residents who are eligible for a Payday Loan can get $1500 cash advance per contract. The repayment term is capped by maximum 90 day(s).

However, there are no limits on the purpose of loan usage. Any urgent expenses, unforeseen bills, car repair, home repair, etc. may seem a sound reason to apply for a Payday Loan in Wisconsin.

If $1500 is not enough, there are always other options to receive the necessary funds in Wisconsin:

  • Unsecured Installment Loans,
  • Bad credit Personal Loans,
  • Title Loans,
  • Check Cashing,
  • Pawn Shops, etc.

Wisconsin Payday Loans online laws

Cash advances (payday loans) from both storefront and online lenders are legal in the state of Wisconsin pursuant to the Wisconsin Department of Financial Institutions. Reputable online lenders operating in accordance with all relevant state and federal laws can be applied to and compared on our platform using a simple online application form.

You state the necessary amount, fill in your personal information and get suitable offers from legit direct lenders. It takes only a few minutes and doesn't affect your credit score. 

Wisconsin Payday Loans interest rates, fees, and other finance charges

The main part of payday loan payment is mostly made up of the interest rate, or APR. The maximum APR that may be charged for short-term cash advance in Wisconsin is 574.00%. It means that if you borrow $100 Payday Loan for 14 days the finance charges will be 2.75% a month.

Besides, the total cost of a Payday Loan includes some additional fees. Wisconsin lending rules allow to charge:

$15 NSF fee

The law obligates Wisconsin Payday Loan lenders to provide you with a written disclosure of all the rates and fees in the understandable language. You should read them carefully and if you agree acknowledge the notification by signing the contract.

Wisconsin Payday Loans direct lenders regulations

According to Wisconsin payday loan laws all direct lenders are obliged to register their companies which will allow issuing payday loans contract. It concerns both Online Payday Loans and Payday Loans Near Me.

Wisconsin requires lenders to be licensed or registered and to comply with a range of provisions, including maximum loan size, duration, and terms.

The main rules regarding Payday loan lenders in Wisconsin are:

  • Essential state license.
  • Complete disclosure of all the information concerning the loan such as its repayment terms, rates, fees, etc.
  • Besides, Wisconsin direct lending companies are recommended to educate the customers on the possible issues related to payday loans. Borrowers must be aware of possible risks, default penalties, other consequences of short-term loans and their alternatives.
  • Wisconsin laws prohibit offensive collecting practices connected with the due loans. Criminal action threats are banned and the lender is required to send a mail notification before starting any legal proceedings against expired contracts.

Nevertheless, you should be careful not to come across any scams. Some unfair lenders can operate without license or under a different license and offer too expensive ‘payday loans’ under illegal conditions. Always check that the lender you are going to apply to works under Wisconsin state law.

Wisconsin Payday Loans consumer information

Besides amounts, rates and fees, consumers must be also well aware of other details of Payday Loans in Wisconsin. They include the availability and number of rollovers, extensions and repayment plan, a cooling-off period, any default penalties or additional fees, etc. Check out the table below to find the most essential information:

Rollovers or extensions 2 rollovers
Cooling-off period 24 hours
NSF fee $15 NSF fee
Other default penalties Wisconsin has collection restrictions in cases when payday loans were delayed or were not entirely repaid. The licensee may not collect any fees under AS 06.50.400.
Criminal actions Prohibited

Look for more detailed information on the official Wisconsin state regulator website - https://compacom.com/go.php?t=aHR0cDovL3d3dy53ZGZpLm9yZy8%3D&time=0.

Legitimate Payday Loans Online with NO credit check in Wisconsin

Looking for a legal Payday Loan with No credit check in Wisconsin? You must understand the meaning of this phrase correctly at first. No credit check implies that a lender will not inquire about your credit history information from or send your borrowing data to any of the three major credit bureaus Equifax, Experian and TransUnion.

If you don’t want to damage your credit history Wisconsin law allows you to apply for a Payday Loan with No credit check. But you should understand that a lender needs to check your creditworthiness at least in some way. He can perform a soft credit check when a lender pre-approves you for a loan and this inquiry will not appear on your credit report. Or there’re other ways to prove you can afford the cash advance. Payday Loan lenders use the tracking system to verify your debts, check your income, etc. And generally, they charge higher interest to lessen the risks.

Wisconsin Payday loans online no credit check are one of the easiest options of getting quick cash to cope with emergency financial requirements, especially for the people with poor credit.

Does Wisconsin law allow Payday Loans for bad credit borrowers?

The average credit score in Wisconsin is 696, which is good. But it doesn't mean that those who have a worse credit can't apply for a Payday Loan in Wisconsin. 

  • First of all, there're a lot of legit direct lenders in Wisconsin providing Payday cash advance to borrowers with both good and bad credit score.
  • Secondly, you can always find a cosigner to increase your chances of being approved for a bad credit Payday Loan.
  • Find out how to improve your credit score and do your best to do it fast. 
  • Or consider taking out a bad credit Installment Loan, or bad credit Personal Loan.

Legit Payday Loans in Wisconsin collection practices

If you can’t repay the loan amount plus interest on a due date it means you default the loan. Wisconsin has collection restrictions in cases when payday loans were delayed or were not entirely repaid. The licensee may not collect any fees under AS 06.50.400.

The major laws that protect Wisconsin residents from debt collecting are:

According to them any criminal actions against borrowers in Wisconsin are entirely prohibited.

If you think that your payday lender violates the Wisconsin Payday Loans law, you may file a written complaint with Wisconsin Department of Financial Institutions. The supervisor from that office interviews witnesses, reviews the payday lender’s business records and documentation, and determine whether to pursue civil or criminal charges

Wisconsin Payday Loans news  - latest changes

Wisconsin is one of the states that has practically no caps on Payday Loans. Still, the governors consider them really expensive and dangerous to the people who are in need of money. 

That's why it's discussed and planned to limit the interest charged for short-term loans. A new bill in Congress would cap those interest rates at 36 percent. It has the backing of Democratic lawmakers in the House and Senate and a conservative Republican from Wisconsin.

One reason lawmakers are getting involved now is the rise of online services that offer short-term loans. 

Alabama Payday Loans historical background

The history of Payday Loans in Wisconsin
2010 The first Payday Loan regulations were introduced. The loan amount to $1,500 or 35% of the borrower’s gross monthly income, whichever is less.
2006 Payday loans to the military were capped at 36% APR.
2011 Payday Loans were defined as cash advance with the maximum 90 days of repayment term. Lenders started to offer longer term Installment Loans.
2011 - 2015 Too many Payday Loan consumer complaints resulted in 20 enforcement actions on the part of the government of the state.
June 2, 2016 A Payday Loan Rule was proposed but still under consideration.

Wisconsin Payday Loan alternatives

If you're looking for instant cash advance in Wisconsin but not a Payday Loan, consider other alternative ways to get the necessary funds:

  • Apply for a Wisconsin Installment Loan - $1000 - $5000 cash advance repaid over several months or years in equal installments.
  • Take out a Car Title Loan if you own a vehicle to use as collateral.
  • Sell some of your valuable stuff online or at a pawn-shop.
  • Consider borrowing from a bank or credit union  - Central Wisconsin Credit Union, Superior Credit Union, etc. 
  • Qualify for one of Federal or Wisconsin government assistance programs: Debt Consolidation, Help with Credit, and Budgeting Advice, FoodShare Wisconsin, Government Assistance and Cash, The Emergency Food Assistance Program (TEFAP), etc.

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