By Andrew R. Schwartz | Published June 15, 2022 | Posted in Bankruptcy | Tagged Tags: confession-of-judgment, enforcement action, vacating a judgment | Comments Off on Challenges of Enforcing a Confession of Judgment in Illinois
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Challenges of Enforcing a Confession of Judgment in Illinois
A confession of judgment clause may allow a creditor to seek a judgment immediately against the debtor if the debtor fails to pay an obligation. Confession-of-judgment clauses, by which a debtor waives most rights to contest a debt, often appear in contracts, promissory notes, guaranties and other agreements. Signing a confession-of-judgment clause may help a Read More
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