Payday Loans in Caledonia, Wisconsin

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No payday loan companies in Caledonia, WI. Consider companies in other cities:

Company nameAddressZip codePhone number
PLS Auto Title Loan 3124 Rib Mountain Dr, Wausau, WI 54401 +1 (715) 849 - 1250
Citizens State Bank 304 N Main St, Cadott, WI 54727 +1 (715) 289 - 4253
Walmart Money Center 3705 Tower Ave, Superior, WI 54880 +1 (715) 392 - 6060
Wisconsin Auto Title Loans, Inc. 3289 Church St, Stevens Point, WI 54481 +1 (715) 344 - 3990
Check `n Go 2806 London Rd, Eau Claire, WI 54701 +1 (715) 836 - 7777
Town Bank 13150 Watertown Plank Rd, Elm Grove, WI 53122 +1 (262) 789 - 8696
PLS Loan Store 106 Frances Ln # B, Beaver Dam, WI 53916 +1 (920) 887 - 9900
U.S. Bank Branch 127 W Main St, Waunakee, WI 53597 +1 (608) 849 - 8300
Xpress Cash 5920 N 39th Ave, Wausau, WI 54401
East Wisconsin Savings Bank 501 E Wisconsin Ave, Appleton, WI 54911 +1 (920) 731 - 5858

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Caledonia, WI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Racine, WI, Payday Loans in Sheboygan, WI, Payday Loan Without a Credit Check in Sun Prairie, WI, Payday Loans in Waukesha, WI, Payday Loan for Wausau, WI, Short-term Loans in West Bend, WI, Payday Loan Companies in Appleton, WI and Online Loans in Beloit, WI. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Caledonia, WI.

Beautiful sights of Caledonia, WI

Payday Loans Available in Caledonia, WI By The Following ZIP Codes:

53108, 53126, 53402, 53404, 53405, 53406

Are Payday Loans Legal In Caledonia, Wisconsin?

Loan Rates and Fees, Laws and Regulations in Wisconsin.

Wisconsin Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)574
Maximum Loan Amount$1,500 (or 35% of the gross monthly income)
Minimum Loan TermNot Specified
Maximum Loan Term90 days
Number of Rollovers Allowed1
Finance Charges2.75%/mo

Caledonia, WI payday loan calculator

Payday Loans in Caledonia, Wisconsin: What You Need to Know

Payday loans can be a useful resource for anyone in need of quick funds. If you’re a resident of Caledonia, Wisconsin and considering a payday loan, it’s essential to understand the regulations and risks involved in applying for one. In this article, we’ll provide you with the information you need to make informed decisions about payday loans in Caledonia, Wisconsin.

What Are Payday Loans?

Payday loans are short-term loans designed to help individuals cover unexpected expenses or bridge gaps between paychecks. Typically, payday loans range from $100 to $1,000 and come with high-interest rates and fees. Payday loans in Wisconsin are legal with certain regulations in place to protect borrowers from getting trapped in cycles of debt.

Regulations for Payday Loans in Wisconsin

Wisconsin has put in place specific regulations for payday loans to protect borrowers from getting into a debt cycle. In Wisconsin:

  • The maximum loan amount is $1,500 or 35% of a borrower’s gross monthly income, whichever is less.
  • Loans must be repaid in full by the borrower’s next payday.
  • The maximum finance charge is $15.50 per $100 borrowed.
  • Rollovers or refinancing the loan is prohibited to prevent borrowers from becoming trapped in a cycle of debt.

It’s crucial to note that lenders in Wisconsin are also required to provide borrowers with a comprehensive disclosure of all loan terms and fees. This disclosure must include the cost of the loan expressed as an annual percentage rate (APR) to help borrowers understand the total cost of borrowing.

The Pros and Cons of Payday Loans

Before applying for a payday loan, it’s essential to weigh the pros and cons of this financial option. Here’s a quick rundown:

Pros:

  • Quick funding: Payday loans are processed very quickly, and funds can be deposited into the borrower’s account on the same day.
  • No credit check: Unlike traditional loans, payday lenders don’t rely on a borrower’s credit score to decide whether or not to approve the loan.
  • Easy application process: Payday loan applications are relatively simple and can be completed online.

Cons:

  • High-interest rates: As mentioned earlier, payday loans come with high-interest rates and fees, which can significantly increase the cost of borrowing.
  • Short repayment term: Payday loans must be paid back in full, including interest and fees, by the borrower’s next payday. This tight repayment schedule can be challenging to meet for those living paycheck to paycheck.
  • Risk of getting trapped in debt cycles: If borrowers aren’t able to repay the full loan amount by the due date, they may be tempted to renew or rollover their loan, resulting in a cycle of debt that can be challenging to escape.

Interesting Facts About Payday Loans in Caledonia, Wisconsin

Here are some of the most noteworthy facts and statistics about payday loans in Caledonia, Wisconsin:

  • In Wisconsin, only one payday loan can be taken out at a time per borrower and there is a limit of six loans per year.
  • The average payday loan in Wisconsin is $350 and can come with an APR of over 500%.
  • A survey by Pew Charitable Trusts found that 69% of Wisconsin payday loan borrowers used the funds to cover basic expenses like rent and utility bills.

Apply Now for a Payday Loan in Caledonia, Wisconsin

If you’re in need of quick funds and considering a payday loan in Caledonia, Wisconsin, TheGuaranteedLoans can help. We are a reputable connector service, providing borrowers with access to a vast network of potential lenders. Our application process is easy and streamlined, and we’ll work hard to help you find the loan that best meets your needs and financial situation.

Please note that TheGuaranteedLoans is not a direct lender and does not make funding decisions. We simply connect borrowers with potential lenders who may be able to provide funds. To apply for a loan, simply fill out our secure online application, and we’ll take it from there. By working with us, you gain access to our network of lenders, increasing your chances of getting the funds you need quickly.

Final Thoughts

Payday loans can be a lifesaver in a financial emergency when used responsibly. Nevertheless, it’s essential to understand the regulations and risks involved before applying for a loan. By following the guidelines and taking the time to do your research, you can make informed decisions about payday loans and protect your financial future.

F.A.Q.

What is a payday loan and how does it work in Caledonia, Wisconsin?

A payday loan is a short-term, unsecured loan that is intended to help individuals cover unexpected expenses or urgent bills. in Caledonia, Wisconsin, payday lenders are required to be licensed and regulated by the state's Department of Financial Institutions. Borrowers must provide proof of income and a valid checking account in order to apply for a payday loan.

Are payday loans legal in Caledonia, Wisconsin?

Yes, payday loans are legal in Caledonia, Wisconsin. However, the state has strict regulations in place to protect consumers from predatory lending practices. These regulations include caps on interest rates and fees, limits on the number of loans that can be taken out at once, and requirements for lenders to provide clear disclosure of loan terms and conditions.