Judge Not Lest Ye Be Judged: Avoiding the pitfalls of an improperly drafted confession of judgment
If drafted and used properly, a confession of judgment (“COJ”) is a unique and powerful way to ensure that a debtor performs under a forbearance or settlement agreement. If drafted and used improperly, then a creditor could become embroiled in needless litigation. Furthermore, a properly drafted COJ increases the value of the creditor’s claim by […]