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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Dominion Voting Machine Defamation Suit Raises Major Judgment Collection Issues
In early 2021, Dominion Voting Systems filed defamation lawsuits in federal court against Donald Trump’s former personal lawyer Rudy Giuliani, former Trump campaign attorney Sidney Powell and MyPillow CEO Mike Lindell. Each defendant is accused of repeated peddling of debunked allegations that Dominion was involved in fraud that delivered the 2020 election to Joe Biden. Read More
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Out-Of-State Judgment Creditors FAQs
Much of our practice focuses on helping out-of-state judgment creditors collect debts from debtors with assets in and around the Chicago metropolitan area. This blog post addresses a number of FAQs that we get from time to time.
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Confession Judgments
What is a “confession-of-judgment clause”? A “confession-of-judgment clause,” also called a “cognovit,” is a contract provision that lets a creditor appoint a lawyer for the debtor, who agrees to let the creditor take a judgment against the debtor.
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