By Andrew R. Schwartz | Published August 20, 2024 | Posted in Confession Judgment | Tagged Tags: Commercial litigation, debt collection, debtor | Comments Off on Using Confession of Judgment in Illinois Debt Collection
A confession-of-judgment clause, often included in promissory notes, guaranties and other contracts, provides advance consent by a debtor to let the creditor take a judgment against them without a trial if the debtor defaults on the obligation. This means the creditor can obtain a court judgment for the amount owed without first notifying the debtor Read More
Read More
Confession-of-judgment clauses let creditors circumvent the normal judicial process and obtain a judgment. Promissory notes, guaranties and other contracts may include them.
Read More
How does a judgment debtor fight a “confession judgment”? The first step to combatting a “confession judgment” is to eliminate it.
Read More