Wisconsin Statutes
Wis. Stat. § 409.616 (2026)
Explanation of calculation of surplus or deficiency
✓ laws through the 2025-26 session (checked Sept. 2026)
Find cases:
SyfertCases citing this section
WI-LEGdocs.legis.wisconsin.gov
JustiaChapter on Justia
CornellLII Search
CasesGoogle Scholar
409.616(1)(a)2.2. Provides an explanation in accordance with sub. (3) of how the secured party calculated the surplus or deficiency;
409.616(1)(a)3.3. States, if applicable, that future debits, credits, charges, including additional credit service charges or interest, rebates, and expenses may affect the amount of the surplus or deficiency; and
409.616(1)(a)4.4. Provides a telephone number or mailing address from which additional information concerning the transaction is available.
409.616(2)(2) Explanation of calculation. In a consumer-goods transaction in which the debtor is entitled to a surplus or a consumer obligor is liable for a deficiency under s. 409.615, the secured party shall:
409.616(2)(a)(a) Send an explanation to the debtor or consumer obligor, as applicable, after the disposition and:
409.616(2)(a)1.1. Before or when the secured party accounts to the debtor and pays any surplus or first makes written demand on the consumer obligor after the disposition for payment of the deficiency; and
409.616(2)(b)(b) In the case of a consumer obligor who is liable for a deficiency, within 14 days after receipt of a request, send to the consumer obligor a record waiving the secured party’s right to a deficiency.
409.616(3)(3) Required information. To comply with sub. (1) (a) 2., a writing must provide the following information in the following order:
409.616(3)(a)(a) The aggregate amount of obligations secured by the security interest under which the disposition was made, and, if the amount reflects a rebate of unearned interest or credit service charge, an indication of that fact, calculated as of a specified date:
409.616(3)(a)1.1. If the secured party takes or receives possession of the collateral after default, not more than 35 days before the secured party takes or receives possession; or
409.616(3)(a)2.2. If the secured party takes or receives possession of the collateral before default or does not take possession of the collateral, not more than 35 days before the disposition;
409.616(3)(d)(d) The amount, in the aggregate or by type, and types of expenses, including expenses of retaking, holding, preparing for disposition, processing, and disposing of the collateral, and attorney fees secured by the collateral which are known to the secured party and relate to the current disposition;
409.616(3)(e)(e) The amount, in the aggregate or by type, and types of credits, including rebates of interest or credit service charges, to which the obligor is known to be entitled and which are not reflected in the amount in par. (a); and
409.616(4)(4) Substantial compliance. A particular phrasing of the explanation is not required. An explanation complying substantially with the requirements of sub. (1) is sufficient, even if it includes minor errors that are not seriously misleading.
409.616(5)(5) Charges for responses. A debtor or consumer obligor is entitled without charge to one response to a request under this section during any 6-month period in which the secured party did not send to the debtor or consumer obligor an explanation pursuant to sub. (2) (a). The secured party may require payment of a charge not exceeding $25 for each additional response.
Notes of Decisions
Cited in 4
cases (3 in the last 5 years), 2009–2025 · leading case: Kraenzler v. Brace, 2009 WI App 131, 773 N.W.2d 481.
Kraenzler v. Brace, 2009 WI App 131, 773 N.W.2d 481. “615(6), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor; *273 (9) Section 409.616, which deals with explanation of the calculation of a surplus or deficiency;…”
Daniel Birge v. Simplicity Credit Union, 27 N.W.3d 218 (Wis. Ct. App. 2025). “§ 409.616 because it did not accurately describe the deficiency.”
Tobiason v. BMO Bank NA, No. 2:24-cv-00590 (E.D. Wis. Dec. 5, 2024). “) In Count IV, Tobiason claims BMO violated Wis. Stat. §409.616 (2) by providing an insufficient explanation of its deficiency calculation.”
Hanson, Randy v. Santander Consum. USA, Inc., 805 F. Supp. 3d 948 (W.D. Wis. 2025). “614 ); and (4) providing a proper explanation of the loan deficiency ( Wis. Stat. § 409.616 ). In Counts V and VI, plaintiffs seek injunctive relief under Wis.”
Wis. Stat. § 409.616(1): 1 case
Daniel Birge v. Simplicity Credit Union, 27 N.W.3d 218 (Wis. Ct. App. 2025). “§ 409.616 because it did not accurately describe the deficiency.”
Wis. Stat. § 409.616(1)(a): 1 case
Daniel Birge v. Simplicity Credit Union, 27 N.W.3d 218 (Wis. Ct. App. 2025). “§ 409.616 because it did not accurately describe the deficiency.”
Wis. Stat. § 409.616(2): 1 case
Daniel Birge v. Simplicity Credit Union, 27 N.W.3d 218 (Wis. Ct. App. 2025). “§ 409.616 because it did not accurately describe the deficiency.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.