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
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
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Common Causes of Commercial Litigation
Commerce depends on agreements forged with a shared understanding of rights and responsibilities. But even the best-laid plans can go awry. Disagreements often arise and sometimes become legal disputes. Commercial litigation, a broad term encompassing disputes between businesses or business and individuals, can prove costly and time-consuming. Here are some of the most common causes Read More
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