Legal Question in Legal Ethics in Pennsylvania

Promissory Note With Confession of Judgment

Your question is state specific. As a result you should check with an attorney admitted to the State Bar of Pennsylvania or the State Bar Association for Pennsylvania. With respect to your question regarding a note with a confession of judgment, there is such an instrument in Louisiana, where I am admitted. A promissory note is simply a written instrument containing a promise to pay a sum certain of money either on demand, on or before a specific date, or by installment and usually contains an interest amount on the amount of money which is due. Some states allow the addition of interest to the principal sum if it's attorney's fees. Some states do not allow their attorneys to charge interest for monies due as attorney's fees and/or costs. A confession of judgment in Louisiana is a procedural device which is allowed in a promise to pay which is included as a vehicle to allow what is known as summary proceeding. Summary proceeding allows the creditor to go to court and present the note showing the confession of judgment, show the debt is unpaid or that the conditions of the note and its obligations have not been met entitling the mover to judgment without the entirety of the trial process which would be required if there was no confession of judgment. Whether or not Pennsylvania utilizes this device is probable based upon your question since the attorney would probably not be asking for it if it was not recognized under Pennsylvania law. With respect to the exact obligations contained in the note regarding interest payments [ if any ], payable on demand, or by a certain future date, or by installments, this is a matter under Pennsylvania law which should be explored either with a separate Pennsylvania attorney or addressed to the Pennsylvania Bar Association. Very often communities will have a local lawyer referral service so you might wish to consider contacting the lawyer referral service and find yourself a Pennsylvania attorney who does collections. That would be your best source of information to get a state specific answer to your question. I hope this helps you. Best regards, Stephen Spring