City Skyline
City Skyline
Avoid Business Bankruptcy | Negotiate Secured and Unsecured Debt MCA | Leases | Vendors | Loans | Since 1998
           Avoid Business Bankruptcy | Negotiate Secured and Unsecured Debt  MCA | Leases | Vendors | Loans | Since 1998  

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 advice 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 51,000 debts in 20 years [ as of 2018 ]. Call us now for a free consultation:  855-708-2672



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