Todays Date:  
   rss

The state Supreme Court has agreed to decide whether Wisconsin law permits judges to determine when payday loan interest rates are too high.

The court will consider whether state statutes block judges from determining if a particular interest rate is unconscionable and, if they don't, what evidence would prove rates are too high.

The case stems from loans Jesica Mount of Onalaska secured from Payday Loan Stores of Wisconsin Inc. in 2008. According to court documents, annual interest rates on the loans varied from 446 percent to 1,338 percent.

The loan company filed a lawsuit against Mount after she failed to make her payments. Mount filed a counterclaim alleging the loans violated the Wisconsin Consumer Act because the rates were unconscionable.


Law Promo's specialty is law firm web site design. Law Firm Website Designer by Law Promo

© LLP News. All Rights Reserved.

The content contained on the web site has been prepared by Breaking Legal News.
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.