CHAPTER 425
CONSUMER TRANSACTIONS — REMEDIES AND PENALTIES
SUBCHAPTER I
CREDITORS' REMEDIES
425.103 Accrual of cause of action; "default".
425.104 Notice of customer's right to cure default.
425.107 Unconscionability.
425.108 Extortionate extensions of credit.
425.110 No discharge from employment for garnishment.
425.111 Levy before judgment.
425.112 Stay of execution.
425.113 Body attachments.
SUBCHAPTER II
ENFORCEMENT OF SECURITY INTERESTS IN COLLATERAL
425.203 Enforcement of merchant's rights in collateral and leased goods.
425.204 Voluntary surrender of collateral.
425.205 Action to recover collateral.
425.206 Nonjudicial enforcement limited.
425.2065 Notice to law enforcement.
425.207 Restraining order to protect collateral or leased goods; abandoned property.
425.208 Customer's right to redeem.
425.209 Restrictions on deficiency judgments.
425.210 Computation of deficiency.
SUBCHAPTER III
CUSTOMER'S REMEDIES
425.301 Remedies to be liberally administered.
425.302 Remedy and penalty for certain violations.
425.303 Remedy and penalty for certain violations.
425.304 Remedy and penalty for certain violations.
425.305 Transactions which are void.
425.306 Unenforceable obligations.
425.307 Limitation of action.
425.308 Reasonable attorney fees.
425.310 Liability of corporate officers.
425.311 Evidence of violation.
SUBCHAPTER IV
CRIMINAL PENALTIES
425.401 Willful violations: misdemeanor.
Ch. 425 Cross-reference
Cross-reference: See definitions in s.
421.301.
CREDITORS' REMEDIES
425.101
425.101
Short title. This chapter shall be known and may be cited as the Wisconsin consumer act — remedies and penalties.
425.101 History
History: 1971 c. 239.
425.102
425.102
Scope. This subchapter applies to actions or other proceedings brought by a creditor to enforce rights arising from consumer credit transactions and to extortionate extensions of credit under
s. 425.108.
425.102 History
History: 1971 c. 239.
425.103
425.103
Accrual of cause of action; "default". 425.103(1)
(1) Notwithstanding any term or agreement to the contrary, no cause of action with respect to the obligation of a customer in a consumer credit transaction shall accrue in favor of a creditor except by reason of a default, as defined in
sub. (2).
425.103(2)
(2) "Default", with respect to a consumer credit transaction, means without justification under any law:
425.103(2)(a)
(a) With respect to a transaction other than one pursuant to an open-end plan and except as provided in
par. (am); if the interval between scheduled payments is 2 months or less, to have outstanding an amount exceeding one full payment which has remained unpaid for more than 10 days after the scheduled or deferred due dates, or the failure to pay the first payment or the last payment, within 40 days of its scheduled or deferred due date; if the interval between scheduled payments is more than 2 months, to have all or any part of one scheduled payment unpaid for more than 60 days after its scheduled or deferred due date; or, if the transaction is scheduled to be repaid in a single payment, to have all or any part of the payment unpaid for more than 40 days after its scheduled or deferred due date. For purposes of this paragraph the amount outstanding shall not include any delinquency or deferral charges and shall be computed by applying each payment first to the installment most delinquent and then to subsequent installments in the order they come due;
425.103(2)(am)
(am) With respect to an installment loan not secured by a motor vehicle made by a licensee under
s. 138.09 or with respect to a payday loan not secured by a motor vehicle made by a licensee under
s. 138.14; to have outstanding an amount of one full payment or more which has remained unpaid for more than 10 days after the scheduled or deferred due date. For purposes of this paragraph the amount outstanding shall not include any delinquency or deferral charges and shall be computed by applying each payment first to the installment most delinquent and then to subsequent installments in the order they come due;
