what is a confessed judgment promissory note
Lenders often desire to place a âconfession of judgmentâ provision in promissory notes or other credit agreements. (âAttorney in Factâ) may go to the court to âconfess judgmentâ against the debtor, with the same result as if the debtor themselves appeared in court and admitted the debt. There is no need for witnesses other than the appointed Attorney in Fact and no need for evidence other than the affidavit of the Attorney in Fact.