Confession of Judgment

A confession of judgment is a legal document in which a debtor admits liability for a debt and agrees to the entry of a judgment against them without the need for a trial. The document typically includes the debtor’s acknowledgment of the debt, the amount owed, and their consent to the entry of judgment. Confessions of judgment are often used in commercial lending transactions as a means of securing the debt and streamlining the collection process. If the debtor defaults on the loan, the creditor can use the confession of judgment to obtain a court order for payment without having to prove the debtor’s liability in a lawsuit.