Missouri Revised Statutes

Mo. Rev. Stat. § 408.557 (2026)

Notice required before deficiency action may be commenced

✓ current as of May 2026

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408.557. Notice required before deficiency action may be commenced. — When a lender sells or otherwise disposes of collateral in a transaction in which an action for a deficiency may be commenced against the borrower, prior to bringing any such action or upon written request of the borrower, the lender shall give the borrower the notice provided in section 400.9-614 for consumer goods transactions or section 400.9-613 for all other transactions that are not consumer goods transactions.

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(L. 1979 S.B. 305, A.L. 2002 S.B. 895)

Notes of Decisions

Cited in 5 cases, 1989–1998 · leading case: Lankheit v. Est. of Scherer, 811 S.W.2d 853 (Mo. Ct. App. 1991).

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Lankheit v. Est. of Scherer, 811 S.W.2d 853 (Mo. Ct. App. 1991). · cites it 17× “With respect to Joe Scherer, the court found that Lankheit did not give *855 the post-sale notice required by § 408.557. 1 With regard to Evelyn Scherer and her personal representative, the court found that Lankheit did not give the pre-sale notice required by § 400.”

Fielder v. Credit Acceptance Corp., 19 F. Supp. 2d 966 (W.D. Mo. 1998). · cites it 14× “Mo.Rev.Stat. § 408.557. Plaintiffs identified two post-sale notices sent to CAC’s debtors.”

Ford Motor Credit Co. v. Freihaut, 871 S.W.2d 129 (Mo. Ct. App. 1994). · cites it 4× “1993) and with the post-sale notice requirement of § 408.557, RSMo (1986). The trial court granted defendant’s motion for directed verdict, stating that it was doing so “in consideration as to all grounds that [defendant] did request.”

Minton v. Hill, 944 S.W.2d 250 (Mo. Ct. App. 1997). “555, and require notice before a lender sells or otherwise disposes of collateral, § 408.557. The term “credit transaction” in this section means “any retail installment transaction as defined by section 365.”

Noritsu Am. Corp. v. Optic Shutter, Inc., 733 F. Supp. 310 (E.D. Mo. 1989). · cites it 2× “Mo.Rev.Stat. § 408.557 governs an action for a deficiency judgment which was commenced after the collateral was repossessed and sold.”

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