My question involves real estate located in the State of: Missouri
We have a private individual that is charging late fees, which contract only says 5% late fee for monthly payment. This guy is charging late fee on top of late fee and on the total balance due that includes the late fees. We are only talking about 3 payments past due, which I can now pay. But I'm not sending the money to him until I know he can't charge that much late fees. Late fees actually only total $61.25, but he has got them up to $189.63. Can he legally charge late fees like that?
Please advise
Thanks

