Wisconsin Promissory Note Templates

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A Wisconsin promissory note is an excellent way for two parties to set and agree to terms of a loan. You don’t need to go through a specific loan official, but you can use a free Wisconsin promissory note to define the terms of your agreement.

However, any Wisconsin promissory note must follow the state laws. Whether you want a secured or unsecured promissory note, you should consider the expiration date and how to enforce the note.

Wisconsin Secured Promissory Note

A secured promissory note Wisconsin form must comply with state laws regarding its creation and alteration. The lending party may not add an asset, which is what distinguishes a secured Wisconsin promissory note from an unsecured note.

Adding assets as collateral may also rule the note ineffective if it can give rise to a default. A free Wisconsin promissory note can be useful, but whether you use a free template or pay for one, you must follow the local laws.

Secured promissory notes can be useful when the borrower does not have a good credit history or if the lender believes the borrower will not pay. An asset, such as a home, serves as collateral that the lender can collect if they do not receive payment.

Wisconsin Unsecured Promissory Note

An unsecured Wisconsin promissory note needs to follow the same laws and regulations as secured notes. However, the rules on adding or changing assets do not apply as an unsecured promissory note relies on the lender’s trust of the borrower.

If the borrower does not pay their debt, the lender will not be able to collect an asset as payment. Because of that, an unsecured note is best for borrowers with good credit scores and payment histories.

When two parties know and trust each other, the option can work as well. In any case, the parties must have an agreement, and the lender should know what action to take if the borrower refuses to pay.


Consider a few common questions and concerns regarding a Wisconsin promissory note.

The statute of limitations on a Wisconsin promissory note is 10 years for municipal notes. A promissory note must be fully repaid within those 10 years after the original due date. If any refunds are involved, they must be paid within 20 years.

In general, the same 10-year statute of limitations applies to other promissory notes in Wisconsin. If you’re the lender, make sure you know when the borrower will pay so that you can take any necessary action to enforce the note while you can.

If you are the lender on a Wisconsin promissory note, you can enforce it in one of two ways. First, you can talk to the borrower and request payment. You can set a payment schedule that the borrower can follow so that you continue to receive the money they owe you.

If you contact the borrower and they do not make a payment, you can take them to court. Going to court can be a hassle, so it’s not ideal. However, if no other method works to receive your payment, it may be the best option. If you have a secured promissory note, you may also be able to collect on the associated assets after the failure of payment.