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Need info on Wisconsin laws for payday loans

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anyone know for sure about wi laws? i'm not to good on the net and need to find out if its legal for payday lenders to lend here in wi. if there not even licensedin wi.? thank you




Hi olive :)

Please check your private message inbox in a few minutes as I will be sending you some links regarding Wisconsin payday lender laws. :)

~Mary

Sub: #1 posted on Wed, 05/10/2006 - 21:48

Mary Mary

(Posts: 1344 | Credits: 246.08)

I am sure Mary might have helped you in the best possible way. I will like to post the link to this WI legislature website which will give you very useful info.

http://www.leg is.state.wi.us/lrb/pubs/wb/00wb7.pdf

Read the permissible interest rates and the maximum amount of loan lent in your state. The lenders should not charge more than the permissible amount. Apart they have to be licensed first.

Sub: #2 posted on Thu, 05/11/2006 - 14:32

john john

(Posts: 1234 | Credits: 270.82)

Thank you John!! I appreciate you posting that link as I did not see it before. :)

~Mary

Sub: #3 posted on Thu, 05/11/2006 - 14:34

Mary Mary

(Posts: 1344 | Credits: 246.08)

:)

Sub: #4 posted on Thu, 05/11/2006 - 15:40

john john

(Posts: 1234 | Credits: 270.82)

so if a company is not licensed in my state wi. is that illegal right there? and do i have to pay these back?

Sub: #5 posted on Thu, 05/11/2006 - 20:37

olive1276 olive1276

(Posts: 54 | Credits: 17.51)

The company must be licensed in a state before issuing any loan. A consumer must be aware of this fact before entering into any agreement. Now, that you have already taken the loan from them, there is a need to pay them back. But it has to be within the permissible interest caps. They can't charge you above the rates fixed in your state. If they do so, you can file a case against them. The company will come under serious problems for not being licensed in your state and over charging you.

Sub: #6 posted on Fri, 05/12/2006 - 14:34

john john

(Posts: 1234 | Credits: 270.82)

What are the legal recoures on payday loans in the state of Wisconsin? Can they sue or have you arrested?

Sub: #7 posted on Thu, 03/05/2009 - 20:24

Unregistered


Please check the US payday loan laws of Wisconsin.

Sub: #8 posted on Thu, 03/05/2009 - 22:16

phoenix phoenix
Moderators
(Posts: 1444 | Credits: 275.38)

Please remember debt is a civil matter not criminal. There are no debtors prisons, we would all be there.

Sub: #9 posted on Fri, 03/06/2009 - 19:37

kfstaff24 kfstaff24

(Posts: 1449 | Credits: 88.92)

Karile, What is the name of the PDL? Some internet PDLs are illegal and even if you defaulted can not sue you.

Sub: #10 posted on Sat, 03/07/2009 - 03:06

nohiogal nohiogal

(Posts: 2582 | Credits: 118)

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