9 votes

Predatory lending practices: Business borrowers hurt by "confession of judgment" filings

3 comments

  1. onyxleopard
    Link
    Note to self: never sign a ‘confession of judgment’, and never borrow money from anyone in the state of NY. We need reform in our governments and judicial systems across the country. This is...

    Note to self: never sign a ‘confession of judgment’, and never borrow money from anyone in the state of NY. We need reform in our governments and judicial systems across the country. This is backwards stuff.

    3 votes
  2. Hypersapien
    Link
    Disgusting. Contracts like that should be unenforceable.

    Disgusting. Contracts like that should be unenforceable.

    2 votes
  3. Tlon_Uqbar
    Link
    Even if the loophole is technically legal, if disgustingly unethical evil, you'd think a prosecutor would be interested in the obvious perjury/forgery/fraud, right?.... right? JK, I know no one...

    Even if the loophole is technically legal, if disgustingly unethical evil, you'd think a prosecutor would be interested in the obvious perjury/forgery/fraud, right?.... right?

    JK, I know no one will be significantly punished for this at all. That's what pisses me off the most, honestly. Some individuals will always be evil, but this story shows a massive systemic failure enabling that evil, just because it has to do with money.