[WhoisKingsley]

COJ baby...

Basically covers the funder. Question though... How much is the deal? Is it considered "high risk"? I always figured if the Merch has nothing to worry about, it shouldn't be an issue. BUT there are times where a COJ is not necessary.

A written agreement signed by the defendant that accepts the liability and amount of damages that was agreed on. A confession of judgment is a way to circumvent normal court proceedings and avoid a lengthy legal process to resolve a dispute. Signing a confession of forfeits any of the rights the defendant has to dispute a claim in the future.
Read more: Confession Of Judgment Definition | Investopedia http://www.investopedia.com/terms/c/...#ixzz4L62ZbhKd

[ARFTC]

Hi Amanda,

I appreciate your input. Very informative (and thanks for the link). So, we now require borrowers to sign and agreement (waiving trial by jury), a PG, file a UCC and then we have them sign a COJ?

What's next? Taking their kids as collateral (but you can pick which kid to leverage)... LOL!

Thanks again and have a great weekend!