Section 52 Principal Amount Financed Must Exceed $500, and Unpaid Balance Must Be $300 or More

• Library: Motor Vehicle 2011

Under § 408.556.4, RSMo Supp. 2010, even if the collateral is not purchase money, no deficiency may be recovered by the lender unless the original amount financed was more than $500 and unless the amount remaining unpaid at the time of default is $300 or more. Of course, under § 400.9-615, RSMo Supp. 2010, of the...