Legal Question in Consumer Law in Missouri

This question is for a Missouri Attorney. I want to know if I can file a small claims case against my university. The Missouri Revised Statutes cap interest rates at 9% per annum if there is no contract. The university charged me about 30% in "finance charges." There is no contract. The policy on the website says they can charge students "up to 50%." http://cashiers.missouri.edu/payments/financial-responsibility.html Here's a link to what it says. Is this legal? The way I read the law in section 408, you are limited to 10% unless both parties agree in writing to a rate higher than the "market rate."


Asked on 5/26/16, 2:54 am

1 Answer from Attorneys
Anthony Smith LawSmith

That us interesting. Hiwever, I've not seen a university allow a student to take classes without either oaying tuition and fees in advance, or promising to do so as they are incurred. You might win, but of course anyhthng you win would be refuced by the principal owed. So, you should pay the debt principal, then sue on the interest as a declaratory case.

Goid luck

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Answered on 6/02/16, 10:24 am


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