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Wisconsin

Wisconsin is America’s 23rd largest state with an area of 65,503 square miles. It also has 11,190 square miles of water and 9,355 square miles adjacent to the Great Lakes, ranking it fourth in the U.S.

Wisconsin became a state when it was admitted to the Union on May 29, 1848. Its three largest cities are Milwaukee with a population of 594,833, Madison whose population is 233,209 and Green Bay with a population of 104,057. Unemployment in Wisconsin was 6.2% as of last November, ranking it as 22nd in the U.S. This was much better than that of the U.S., which currently has an unemployment rate of 7.3%. Milwaukee’s unemployment rate was worse at 9.9%. However, Green Bay fared better at 7.7% unemployment and Madison’s was the best of the three at just 4.6%.

The state has 7446 rivers and streams. If you were to stretch them end-to-end it would be 26,446 miles or enough to circle the globe at the equator. The U.S.’s first hydroelectric plant was built at Fox River, Wisconsin in 1882. And the first practical typewriter was created in 1867 in Milwaukee. Wisconsin produces more milk than any other state and is considered to be the dairy capital of America. You could also call Wisconsin the home of Barbie as the original Barbie is from the town of Willows. Her full name is Barbie Millicent Roberts.

The labor force in Wisconsin totals 2,673,280. The largest segment of its labor force is Office and Administrative Support Occupations with 416,360 workers. Production Occupations ranks second with 300,540 employees and Sales and Related Occupations is third with 262,540 employees.

Wisconsin does much better than the US as a whole in homeownership as its rate is 71%. This compares with America’s average homeownership of 65%. It is our 20th most populous state with a population of 5,686,986.Wisconsinites have an average credit score of 749, which is much better than the US average credit score of 687. If Wisconsin were a person he or she would easily qualify for the lowest possible interest rates. The average credit card debt in Wisconsin is $4327, which is nearly $100 lower than the US average credit card debt per borrower of $5235. And its median household income is $53,079 – again much better than the US median household income of $51,017.

Debt Relief Services Available In Wisconsin

Wisconsin Debt Settlement and Debt Reduction Laws

Looking for debt relief in Wisconsin? Our debt consultants are always ready to speak with you and give you a free consultation – you can call now to see if you qualify:

(888) 703-4948

One way to reduce your debt in Wisconsin is with debt settlement. Credit card debt settlement is a way to reduce your debts with the creditor or collection agency to only pay back a fraction of the original amount owed. This method works because you pay less yet the creditor still recovers some of their loss. Ideal participants in such programs are those who are seeing less income, have medical issues or are simply overwhelmed by debt.

However, you may not have to even apply for credit card debt settlement if the statute of limitations is up in your state and the debt no longer appears on your credit report. Legally, credit companies must recover the debt in a period of time specified by the state or the debt is no longer recoverable after this time period. Read on to find out if the statute of limitations is up for you.

Debt Collection

(This is intended to be a helpful and informational debt resource for Wisconsin consumers and does not constitute legal advice.)

Wisconsin follows the set of laws that are collectively known as the Fair Debt Collection Practices Act (FDCPA).

  • Original creditor cannot contact any person not residing or present in the debtor’s home (except credit bureaus and other creditors), unless the original creditor a) is determining the debtor’s current location if creditor has reason to believe he or she moved or changed jobs; or b) is seeking property owned by the debtor for seizure to satisfy the debt; or c) the debtor consented.
  • Original creditor can only mail one notice per month after a debtor has told the creditor to cease communication. Said monthly notice may not be devised to threaten action.
  • In the event that the original creditor sues and wins a judgment, the cease communication decree is voided.

Violators of the debt collection laws can be sued by individual debtors affected. This is on top of the complaints that can be submitted to the FDCPA.

Maximum Interest Rate a Collection Agency Can Charge in Wisconsin: 5%

Wisconsin Wage Protection: 80% of disposable weekly earnings (after tax income) or 30 times federal hourly minimum wage.

Statute of Limitations

A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in Texas but currently live in Wisconsin, the applicable statutes of limitations would be Texas’).

Oral Agreements: 6 years
Written Contracts: 6 years
Promissory Notes: 10 years
Open Accounts (credit cards): 6 years

apply now for debt relief help
Whether you have unsecured credit cards, medical bills, personal loans or collection accounts, there’s help for you. The National Debt Relief Group offers a free consultation. You can fill out our Short Application and one of our debt specialists will contact you within minutes, or you can call now – (888) 703-4948.

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