Posted by John Merchant on June 26, 2008 at 10:12:08:
I’ve used them as I’ve found that most payors are very afraid of them and are more than a little nervous that I’ll slip down to the courthouse and enter a Default Judgment if/when they pay late.
So my use of, and debtors’ signing same have got me paid on time or early in a few situations.
But I think I would never do such as I strongly feel that CA and all other states are probably going to decide negatively in foreseeable future.
And I don’t want my name going into the law books as the dumb klutz that got busted for using a Confession of Judgment when he shouldn’t have.