This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Payment Plan Math in Wisconsin

Wisconsin law caps the finance charge on payment plans at 5%, as stated in Wis. Stat. § 421.202. This means a creditor cannot charge more than that percentage of the principal amount being financed as the cost of the payment arrangement. The statute governs how this maximum rate applies to consumer credit transactions, including repayment schedules. The exact calculation depends on the principal balance and the length of the plan, with the statute providing the governing rule. A worked example below demonstrates how the 5% figure translates into a dollar amount on a specific balance. For a precise estimate based on your own figures, use the DocketMath calculator.

Governing authority

In Wisconsin, the payment plan math rule is set by Wis. Stat. § 421.202. The verified packet cites Wis. Stat. § 421.202 (https://docs.legis.wisconsin.gov/statutes/statutes/421/II/202).

Wisconsin payment plan math: the verified value is 5% under Wis. Stat. § 421.202. The verified packet cites Wis. Stat. § 421.202 (https://docs.legis.wisconsin.gov/statutes/statutes/421/II/202).

Estimate your own result: every situation has exceptions that can change the outcome. Use the payment plan math calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.