Wisconsin Payday Loans

Life has many twists and turns that can leave you strapped for cash and weeks away from your next paycheck. Unexpected events usually occur when you have no extra money in your wallet. If you are a resident of Wisconsin look no farther than LoansPayday.info to meet your needs. In a few simple steps you can have a payday loan that will help you cover those unexpected expenses and help you through until your next payday. Just complete our brief application and we can have your money to you the same day. What's convenient is that when you get paid you simply pay us back. You aren't stuck with a loan that will take you years to pay back and you can use the money for whatever you want. Take a few minutes and learn about the Wisconsin payday loan lending practices. If you are interested fill out our application and stop worrying about making it until your next paycheck arrives.

Wisconsin Payday Loan Laws

In most states, the payday loan industry is highly regulated. There are usually caps on the amount of money that can be borrowed and on the percentage rate that can be charged for these short term loans. This is not the case in Wisconsin. In fact, Wisconsin has no laws on the books in regards to the terms of a Wisconsin payday loan. While this might seem like a great solution because you can borrow as much as you want as often as you need, there are many downsides to the Wisconsin payday loan industry.

There are always things to be aware of when obtaining a payday loan. While it's unlikely that the borrower will find themselves in a bind if they follow a few simple rules, it is certainly possible that they will find themselves unable to pay back their loan on time. The money borrowed is done so against your next paycheck with the understanding that you will pay it back promptly with the funds you earn from your job. If you find yourself unable to make the required payment on time, your lender may be able to extend the term of your loan. LoansPayday.info is certainly on your side, and will work with you every step of the way to make sure that your needs are met, and that you're protected throughout the process.

Since there is very little regulation when it comes to governing the length and amount of a Wisconsin payday loan, the industry is understandably booming. Most companies issuing Wisconsin payday loans do a very good job at protecting their customer's interests; after all a satisfied customer is a repeat customer, and word of mouth is important for marketing. Currently there are an estimated 439 payday loan locations within the state. It should be noted that while there are no limitations imposed by the Wisconsin government these loans are meant to provide short term relief and not long term solutions to financial problems.

If you are a resident of Wisconsin who needs a little extra cash to pay your bills then a payday loan from LoansPayday.info might be the solution you are looking for. We allow you to borrow against your future paycheck and get the money you need today rather than a week from now. Instead of stressing about how you are going to pay your bills you can apply for one of our loans and get approved in minutes. You pay us back the money we lent you plus interest when you get your paycheck. You can complete the application online from the privacy of your home and avoid those long lines at the local payday loan company. At LoansPayday.info we are committed to helping you resolve your short term financial needs and educating you on how the payday lending industry works in Wisconsin.

Unlike other states that allow payday loans, Wisconsin does not have a regulation on interest rates, amount, repayment terms, or loan lengths like most other states. This is why it is important to fully understand the terms and conditions of your individual loan before you accept the cash and sign on the dotted line. One company operating in Wisconsin has been said to charge an annual percentage rate of 438%. Among nationwide payday lenders, this is actually a fairly tame rate. However, due to the opinion of lawmakers that this interest rate is too high, the Senate is working on a bill (SB96) that would limit the interest rate at 26%. Until that time comes, lenders can charge as much interest as they need to make an acceptable profit, in order to keep their own employees working.

While laws governing the terms of a Wisconsin payday loan have yet to come to pass, the government of Wisconsin does have some guidelines as to what information has to be given to those applying for a payday loan in the state. The first of these regulations is that all lenders offering payday loans must disclose that payday loans should only be used for short term lending and not long term financial stability. Lenders must also disclose that additional interest can be charged for a payday loan refinance and that failure to pay back the money in the allotted period of time could result in long term financial hardship.

A second requirement imposed on Wisconsin payday loans is that The Department of Finance must provide educational material that outlines the potential dangers of refinancing a payday loan. Wisconsin payday loan companies provide their customers with all the information they need to make an informed decision. This ensures that the lenders that operate within the state provide their customers the information to decide what is right for their family.

Thirdly, the payday loan company must provide a chart disclosing all fees and charges that will be associated with the loan. This chart should be visible to all patrons and should be worded so that everyone can easily understand the terms of the advance. Payday lenders within the state of Wisconsin use these charts to explain, in depth, the financial workings of the loan.

When you need a little extra money to cover your expenses, look to LoansPayday.info to provide you with great service, competitive rates, and security. Complete our simple application and have your money today.

Wisconsin Unemployment Statistics

The rate of unemployment in Wisconsin has never gone over 6.6%. Generally, this rate stays well below the 6% line. This can be proven by looking at data from January 2005 and 2006. In January 2005 the unemployment rate was 5.5% and in the 12 months following, the rate of unemployed residents of Wisconsin decreased to 5%. This 5% rate translates in to approximately 153,040 residents without jobs.