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
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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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What Are Your Remedies When a Debtor Appears to be Judgment-Proof?
Taking a civil judgment is a significant step toward getting paid, but it is not always the final step. The debtor may refuse to pay the amount ordered by the court, forcing the creditor to take collection measures. This can become extremely difficult when the debtor appears to be judgment proof. Judgment proof debtors are Read More
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