SE: Sign Here to Lose Everything
Bloomberg via Youtube
If you’re running a small business in America and you need to borrow money, you may be forced to sign a “confession of judgment” – an obscure legal document that gives your lender the right to seize your assets with no trial or advance warning. Bloomberg investigative reporters Zeke Faux and Zachary Mider discovered that some lenders have used this strategy to seize borrowers’ money thousands of times in recent years, often bankrupting businesses and ruining lives.
Read the full story on Bloomberg BusinessWeek:
Part 1: https://www.bloomberg.com/graphics/2018-confessions-of-judgment/
Part 2: https://www.bloomberg.com/graphics/2018-confessions-of-judgment-millionaire-marshal/
Video by: Alan Jeffries, Victoria Blackburne-Daniell