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Wisconsin Payday Loans

As a resident of the state of Wisconsin, what are the options for an individual who is in need of financial assistance in the middle of the month? If you are employed and need quick cash, payday loans are the best option. A cash advance is a short term, small sum loan that is provided to an employed individual with the intent that it will be repaid on the borrower’s next payday. These loans can provide relief in the event of financial emergency, or just help to make ends meet between paychecks.

How Does The Process Work?

For a potential borrower in the state of Wisconsin, the first step in obtaining a cash loan is finding the lender who will best suit your specific needs. Payday lenders can be found locally, however, another option is online lenders. Online lenders can provide a quick and easy payday loan process that will leave you with cash in no time at all, all from the comfort of your own home. Online loans can be paid through direct deposits and electronic transfers, meaning that the entire process can be handled online.

Once a lender is found, the borrower can expect to sign a loan agreement after providing some information to the lender. Although the specific information needed from a borrower can vary from lender to lender, some information will need to be provided in order to protect both parties. Some variation of the following items will be required in the payday loan process:

  • The borrower must provide personal identification (this should be photo identification such as a state issued driver’s license or passport).
  • The borrower must prove current employment (this can be proven through pay stubs or bank statements showing previous payments).
  • The borrower must have a valid checking account (some lenders require that the checking account be at least three months old to be considered valid).
  • The borrower must provide some sort of repayment security (this can be in the form of a postdated check signed to the lender, or by the borrower’s authorization for the lender to withdraw the amount owed).

Once the loan has been processed, the funds will be disbursed to the borrower. The loan is expected to be repaid on or before the date of the borrower’s next payday.

Apply For A Wisconsin Cash Advance

Payday loans are regulated on a state level in the United States. While some states have made payday loans illegal, the majority of states do allow the practice. Payday advances are legal in the state of Wisconsin and as such, lenders can be found both locally and online. Wisconsin state legislation regulates the way that personal loans are practiced in order to protect the borrower and the lender. The total loan amount owed by one individual at a time can be no more that 35% of their total income or $1500, whichever amount comes first. Also, loans cannot be rolled over more than one time if they are unpaid.