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Anonymous
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Sub: #17 Confession of Judgment
Replied on 04-13-2010, 09:17 AM
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Originally Posted by Anonymous View Post
I called them last night and they said that it's not a JUDGEMENT- but simply a way for them to file a judgement on me without going to court (to save money for them) IF I don't pay the remaining $400 at the end of the month- the guy said that since I've already setup a draft of the 400 for Sept 30, It will be marked as satisfied. He said a JUDGEMENT will not appear on my credit as long as I pay on Sept 30. I was reading the confession and it does have a contingency line about the $400 payment on Sept. 30. So I guess its me confessing to a judgement if I couldn't make the agreed upon final payment... thoughts?

NEVER, I repeat, NEVER sign a "Confession of Judgment" with any party (lendor, creditor, landlord, lien holder, et al). It allows them to go to court and immediately establish a judgment amount YOU have to pay to them without you even being notified ante- or ex post facto. Simply move forward with your verbally agreed upon Sept. payment of the remaining $400.00...oh, and insist upon written notification that account/settlement has been closed.

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