Section 46 Notice of Right to Cure

• Library: Motor Vehicle 2011

A lender may not accelerate maturity of the unpaid balance or attempt in any way to enforce a security interest until 20 days after the borrower is given a proper notice of right to cure. And because the notice may not be given until the borrower has
been in default for 10 days, the borrower will have a minimum of 30 days to cure the default. The 20-day period begins to run upon the lender’s delivering the notice to the borrower or mailing it to the borrower’s last known address. Section 408.555, RSMo...