What is a confession of judgment?

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What is a Confession of Judgement?

A confession of judgement, or COJ, is a pre-signed judgment that is designed to ensure that a debt can be resolved without the expense of a court case. COJs are typically separate documents, however sometimes they can be clauses in a larger contract. 

Confessions of Judgement and Merchant Cash Advances

In the merchant cash advance world, financing providers often require borrowers to sign a confession of judgement. 

Court Representation

If the borrower defaults on the merchant cash advance without making alternative payment arrangements, the cash advance provider can file the confession of judgment against the borrower, usually without filing a complaint or a lawsuit first. The lender's lawyer can sometimes just file the confession of judgement against the borrower and the borrower often doesn’t know that a judgement has been entered against them until they find that their bank accounts have been locked up or frozen. This is not a situation you want to be in! Call Creditors Relief for help before this happens to you!

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