Everything You Need to Know About Confessions of Judgment
When you sign a Confession of Judgment, you sign away your rights to the legal process. A Confession of Judgment (Cognovit Note/Warrant of Attorney) is an extraordinary weapon that creditors can use to remedy loan defaults. In short, It allows Merchant Cash Advance companies and other creditors to enter a judgment against debtors without having to give notice when a complaint is filed in court and without a hearing where a borrower would have the ability to defend themselves. What does it look like in practice, though? The Aftermath of a Confession of Judgment Filing You wake up and go to work as you...
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