A confession of judgment (COJ) in a merchant cash advance contract can allow the lender to obtain a court judgment against a business very quickly. Many business owners donât realize they signed a confession of judgment clause until a lender files paperwork and moves to enforce a judgment. Once a judgment is entered, lenders may attempt aggressive collections such as: ⢠freezing business bank accounts ⢠filing UCC liens ⢠levying funds ⢠seizing business assets Understanding how merchant cash advance lawsuits work â” including confession of judgment provisions â” is critical for business owners facing MCA collections or litigation. Emergency resources for businesses dealing with MCA lawsuits or bank levies: https://crediblelaw.com/stop-an-mca-bank-levy-fast/ More guides:
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