Before the district court trial the City offered to confess judgment
of $500,000, which Pinnacle refused.
Borrower hereby waives any errors and fully releases any attorney-in-fact obtained by Lender to confess judgment
on Borrower's behalf.
The sharp increase in uncontested debt actions in the 1730s, in particular the sudden tendency of debtors to confess judgment
against themselves to facilitate collection by their creditors should they fail to repay, underscored not only the massive increase in indebtedness but also the acceptance of indebtedness as a necessary cost of doing business.
After the plaintiffs filed suit, Allstate offered to confess judgment
in favor of the claimants for $101.
However, a lender can only confess judgment
for money against a defaulting borrower if the loan documents expressly authorize the confession of judgment procedure, which is common for commercial loan documents in Pennsylvania.
Given these consequences, to voluntarily confess judgment
or to allow judgment to enter by default is only likely to occur where something substantial is at stake and where the effort to collect a debt is real, not ministerial.