Prenzler defaulted on home loan

by Steve Gonzalez |
Sep. 20, 2006, 9:02am

Republican candidate for Madison County Treasurer, Kurt Prenzler, once defaulted on a home loan, court documents show.

Former Madison County Sheriff Bob Churchich showed reporters documents from state courts in Colorado and Illinois at a press conference at Treasurer Fred Bathon's Edwardsville headquarters on Monday.

Prenzler could not be reached for comment.

"The information we are disclosing today is the kind of information that would disqualify someone from sensitive and financial positions in county government," Churchich said. "These are public records that would be commonly found during any basic background check."

In 1983, Prenzler executed a promissory note from Megabank in Colorado. The loan was for real property for $28,200 and the monthly payments were $301.04 due on the 8th of each month.

In January 1990, the bank filed suit in Arapahoe County alleging Prenzler failed to make payments.

On May 4, 1990, the court entered a judgment against Prenzler for the default amount, plus interest. The court also ordered Prenzler to pay attorney fees to the bank.

In June of 1990, Megabank filed a foreign judgment in McLean County, Ill. in an attempt to collect the judgment. Prenzler moved from Colorado to Illinois while the case was pending.

Prenzler agreed to make the payments in October 1990, however in December 1992, a judge in McLean County asked Prenzler why he should not be held in contempt for not making the payments.

Apparently that got Prenzler's attention and he paid his debt and the court closed the case three months later.

"I know I don't want someone with this kind of history handling Madison County's tax dollars," Bathon said. "Only when the McLean County Court threatened Mr. Prenzler with contempt did he finally re-pay the loan."

Bathon, who said his credit score is near 800, said taxpayers should remember that a lender had to sue Prenzler and pursue him across state lines to force him to pay his debt.

Churchich added, "I don't see how voters can trust someone who has this kind of history of avoiding responsibilities for his personal debt. I know I wouldn't.

The Madison County Treasurer's office handles and distributes more than $500 million every year.

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