City Skyline
City Skyline
Negotiate Secured and Unsecured Debt | MCA | Leases | Vendors | Loans Since 1998 - 11,000 Businesses helped - Avoid Bankruptcy
            Negotiate Secured and Unsecured Debt | MCA | Leases | Vendors | Loans           Since 1998 - 11,000 Businesses helped - Avoid Bankruptcy

Confession of Judgment on an MCA

Many Merchant Cash Advance loans* require the business to sign a “Confession of Judgment”.

 

In most simple terms, a Confession of Judgment [COJ] allows the lender to file a judgment, skipping the law suit phase altogether. This saves the creditor time and money and allows them to act quickly. A COJ is also known as a “cognovit note”.

 

Many of our client come to us with a COJ in place. If you want to understand the implication[s] of having signed one or more COJ’s, we’ll be happy to answer your questions, no charge.

 

* some may argue that a merchant cash advance is not a loan because the merchant is technically selling future receivables. The difference seems minor, but it is not.  Loans are subject to usury law, merchant advances are not.

 

** Note: We are not lawyers, and as such, we are not offering legal advise on this website.  So follow good general business practices and contact a lawyer if you have legal questions.

 

 

 

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Secured and Unsecured debts ok

Free Consultation: We will examine your payables, discuss the threat levels, show recent settlements with your creditors and tell you how we would solve the problem - This alone is priceless if you are in trouble- How can we do this?  We have settlled over 50,000 debts in 18 years. Call us now for a free consultation:  

855-708-2672

 

 

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