422.307 Estimates or approximations. If at the time disclosures must be made, an amount or other item of information required to be disclosed or needed to determine a required disclosure is unknown or not available to the creditor, and a reasonable effort has been made to ascertain it, the creditor may use an estimated amount or approximation of the information, if:
(1) The estimate or approximation is clearly identified as such, is reasonable and is based on the best information available to the creditor; and
(2) The estimate or approximation is not used for the purpose of circumventing or evading the disclosure requirements of this subchapter.
History: 1971 c. 239.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 422 - Consumer credit transactions.
422.201 - Finance charge for consumer credit transactions.
422.203 - Delinquency charges.
422.205 - Finance charge on refinancing.
422.206 - Finance charge on consolidation.
422.207 - Advances to perform agreements of customer.
422.209 - Rebate on prepayment.
422.210 - Agricultural credit transactions.
422.301 - Requirements of federal act.
422.302 - General requirements and provisions.
422.303 - Form requirements other than open-end or discount.
422.304 - Prohibition of blank writings.
422.306 - Receipts; accounting; evidence of payment.
422.307 - Estimates or approximations.
422.308 - Open-end credit disclosures.
422.310 - Refund anticipation loans.
422.402 - Balloon payments prohibited.
422.403 - Maximum periods of repayment.
422.404 - Assignment of earnings.
422.405 - Authorization to confess judgment prohibited.
422.406 - Negotiable instruments.
422.407 - Defenses assertable against an assignee.
422.409 - Notice of assignment.
422.410 - Statements of compliance or performance.
422.412 - Restriction on liability in consumer lease.
422.413 - Limitation on default charges.
422.414 - Use of multiple agreements.
422.415 - Changes in open-end credit terms.
422.4155 - Notice of termination of liability.
422.416 - Referral transactions prohibited.
422.417 - Restrictions on security interests.
422.418 - Security interests: consolidations; open-end credit plans.
422.421 - Variable rate transaction.
422.502 - Registration requirements.
422.503 - Prohibited activities.