Legal Question in Credit and Debt Law in Maryland

My Bank has filed a Complaint for Judgment by Confession (3-611) against my company for a commercial loan I have had for 7 years. What are my options?


Asked on 2/21/12, 4:05 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

You can file a motion to vacate or modify the confessed judgment if you do not agree with it, but you need to show why it is wrong. If you don't, they have a valid judgment that they can collect by garnishment, levy, etc. If you can't pay it or reach a settlement, you may want to discuss your options with a bankruptcy lawyer.

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Answered on 2/21/12, 4:42 pm


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