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  1. #1
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    Sep 2016
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    Default What are Your Rights if You Have Signed a Confession of Judgment

    A North Carolina debtor entered into a settlement agreement with a creditor and signed a confession of judgment. He can't afford to make his required payments but does not want a judgment entered. What are the debtor's rights and can he stop the plaintiff from entering a judgment if he defaults?

  2. #2
    Join Date
    Sep 2005
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    Default Re: What are Your Rights if You Have Signed a Confession of Judgment

    If the debtor violates the settlement agreement, for example by missing required payments, the confession of judgment can be immediately recorded with the court. The creditor is not required to give any advance notice of filing to the debtor, unless they have a written agreement that requires notice to be given. The debtor should ask the creditor for more time to pay, or consider consulting a bankruptcy lawyer.

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