Deferral, refinancing and consolidation agreements
Wis. Stat. § 424.206
in effect(1) The creditor may not receive a separate charge for insurance in connection with a deferral (s. 422.204), a refinancing (s. 422.205) or a consolidation (s. 422.206) unless:
(a) The customer agrees in writing at the time of deferral, refinancing or consolidation that a specific charge may be made;
(b) The customer is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which the customer would have been entitled had there been no deferral, refinancing or consolidation;
(c) The customer receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated (s. 424.205); and
(d) The charge does not exceed the amount permitted by this chapter (s. 424.204).
(2) A creditor may not contract for or receive a separate charge for insurance which duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge.
(3) A violation of this section is subject to the provisions of s. 425.303.
Source: WI Statutes (Official Site)URL: https://docs.legis.wisconsin.gov/document/statutes/424.206Fetched: 10/7/2026