Payday Loans in Morrisonville, Wisconsin

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

Company nameAddressZip codePhone number
Royal Bank 731 Water Ave, Hillsboro, WI 54634 +1 (608) 489 - 2671
Walmart Money Center 3705 Tower Ave, Superior, WI 54880 +1 (715) 392 - 6060
Solon Springs NAPA 11172 S O'Brien PKWY, Solon Springs, WI 54873 +1 (218) 341 - 0008
Grant Thornton LLP 2501 E Enterprise Ave, Appleton, WI 54913 +1 (920) 968 - 6700
Dairy State Bank 103 3rd St, Haugen, WI 54841 +1 (715) 234 - 7006
Old National Bank 640 Division St, Stevens Point, WI 54481 +1 (715) 997 - 6590
USA Cash Services 1024 Belknap St, Superior, WI 54880 +1 (715) 394 - 9336
World Finance Corporation 770 W Paradise Dr, West Bend, WI 53095 +1 (262) 429 - 1104
Check n Go 135 Division St N, Stevens Point, WI 54481 +1 (715) 344 - 1111
MoneyGram 713 N Spring St, Beaver Dam, WI 53916 +1 (920) 887 - 9731

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Morrisonville, WI, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Waukesha, WI, No Credit Check Loans in Wausau, WI, Payday Loans in West Bend, WI, Guaranteed Loans in Appleton, WI, Payday Loans in Beloit, WI, Payday Loan for Brookfield, WI, Payday Loans in Eau Claire, WI and Bad Credit Loans in Fond du Lac, 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 Morrisonville, WI.

Are Payday Loans Legal In Morrisonville, 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

Morrisonville, WI payday loan calculator

Understanding Payday Loans in Morrisonville, Wisconsin

If you find yourself in need of immediate financial assistance and are unable to secure a traditional loan, a payday loan may be a viable option. Payday loans are short-term, high-interest loans that are typically due on your next payday. They are a way for people to access small amounts of funds to cover unexpected expenses, large bills or other financial needs.

If you’re a resident of Morrisonville, Wisconsin, it is important to know that payday loans are legal in Wisconsin. However, it’s worth noting that the state has regulations in place to protect consumers from predatory lending practices. Thus, it’s crucial to understand the terms and conditions of any loan agreement you enter into to ensure you make an informed choice.

How Payday Loans Work in Wisconsin

Payday loan lenders in Wisconsin may loan up to $1,500 at a time. There is no minimum loan term, but the maximum term allowed is 90 days. Lenders may not charge more than $20 in fees for every $100 borrowed. This means that if you borrow $300, a lender may charge up to $60 in fees.

Additionally, Wisconsin law requires lenders to provide a written agreement that clearly outlines the terms of the loan, including the amount borrowed, fees, due date, and annual percentage rate. Borrowers must also provide proof of income and identification to secure a payday loan.

It is essential to note that rollovers are not allowed in Wisconsin. This means that if you cannot repay your payday loan on time, you may not take out an additional loan from the same lender to cover the first one. Doing so would result in additional fees and worsening your debt.

Benefits of Payday Loans in Morrisonville, Wisconsin

When used correctly, payday loans can be a useful tool for those who need quick access to cash. These loans offer the following benefits:

– Quick process: Payday loans in Morrisonville, Wisconsin can be processed quickly, sometimes within minutes or hours of completing the application.

– Bad credit is not a barrier: It is often possible to secure a payday loan even if you have poor credit, making it a lifeline for those who are unable to secure traditional loans.

– Convenient: Payday loan lenders typically have multiple locations and may also offer online application options for added convenience.

Drawbacks of Payday Loans in Morrisonville, Wisconsin

Despite the benefits, payday loans come with a few drawbacks that can make them a risky choice for some borrowers. These drawbacks include:

– High fees: Wisconsin state law allows lenders to charge $20 in fees for every $100 borrowed. These fees can quickly add up and result in higher repayment amounts.

– Short repayment terms: Payday loans must be repaid within a maximum of 90 days, meaning borrowers have limited time to pay back the loan.

– Risk of debt cycle: Since payday loans are typically due on the borrower’s next payday, it can be challenging to pay back the loan on time while managing other expenses. This can create a cycle of debt, where borrowers take out additional loans to cover previous ones’ costs.

Interesting Facts About Payday Loans in Morrisonville, Wisconsin

Did you know that in 2017, 139,000 Wisconsin residents took out over 537,000 payday loans? That’s according to the Wisconsin Department of Financial Institutions. These loans resulted in over $138 million in fees alone, representing a significant portion of the state’s financial industry.

Moreover, data shows that 25% of payday loan borrowers in Wisconsin renew their loans for at least nine consecutive cycles. This suggests that many borrowers are struggling to pay back their loans within the allotted time and may fall into debt cycles.

Apply Now with TheGuaranteedLoans

If you’re in need of a payday loan in Morrisonville, Wisconsin, TheGuaranteedLoans can help connect you with potential lenders. As a loan connector service, we work with multiple lenders to increase your chances of securing the funds you need.

Our online application process is simple and streamlined, and you’ll receive a quick response on your loan status. It’s crucial to remember that TheGuaranteedLoans is not a direct lender and does not provide loans directly. Instead, we facilitate connections between borrowers and lenders to help you find the best loan option available.

Conclusion

If you are considering a payday loan in Morrisonville, Wisconsin, it is essential to understand the risks and benefits before committing to any loan agreement. You should only borrow what you can afford to repay, and avoid taking out multiple loans or falling into a debt cycle.

At TheGuaranteedLoans, we aim to provide you with clear and concise information about payday loans to empower you to make informed borrowing decisions. Apply now or contact us today for more information on payday loans in Morrisonville, Wisconsin.

F.A.Q.

How do I apply for a payday loan in Morrisonville, Wisconsin?

To apply for a payday loan in Morrisonville, Wisconsin, you will need to visit a payday lender and provide proof of income, identification, and a post-dated check or authorization for electronic withdrawal from your bank account.

Can I rollover my payday loan in Morrisonville, Wisconsin?

No, rollovers are not allowed for payday loans in Morrisonville, Wisconsin. If you are unable to repay your payday loan on the due date, you will need to work out a repayment plan with the lender or consider other options for obtaining additional funds.