CONFESSION OF JUDGMENT

confession of judgment

A written authorization by the debtor to allow the creditor or the creditor's attorney to enter a money judgment against the debtor if the obligation in the promissory note signed by the debtor is not paid when due. (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms2012.

confession of judgment

A written authorization by the debtor to allow the creditor or the creditor’s attorney to enter a money judgment against the debtor if the obligation in the promissory note signed by the debtor is not paid when due.

US Bankruptcy2012.

Also, the same effect of a confession of judgment can be attained by having a borrower sign a cognovit note when the borrow first becomes in debt to the lender. The note would say how much the debtor owed and that the debtor voluntarily subjects himself/herself to court authority to resolve any dispute. If the debtor defaults, the note could be presented to the court to obtain a judgment without even notifying the debtor of the court proceedings. Many people feel this is controversial because it doesn't allow the defendant to present a proper defense.