New York A07545 prohibits judgments by confession on personal, family, household, consumer, or non-business debts under $5,000,000.

New York A07545 amends the civil practice law and rules to prohibit the entry of a judgment by confession on amounts due from one or more individuals for personal, family, household, consumer, or non-business purposes. It also prohibits such judgments on debts incurred if the principal amount was less than $5,000,000 at the time the debt was incurred. This act applies immediately to judgments by confession entered upon affidavits filed after its effective date.

New York A07545 prohibits judgments by confession on personal, family, household, consumer, or non-business debts under $5,000,000.

New York A07545 amends the civil practice law and rules to prohibit the entry of a judgment by confession on amounts due from one or more individuals for personal, family, household, consumer, or non-business purposes. It also prohibits such judgments on debts incurred if the principal amount was less than $5,000,000 at the time the debt was incurred. This act applies immediately to judgments by confession entered upon affidavits filed after its effective date.