Sign Here to Lose Everything

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/20... Part 2: https://www.bloomberg.com/graphics/20... Video by: Alan Jeffries, Victoria Blackburne-Daniell Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_... Become a Quicktake Member for exclusive perks: http://www.youtube.com/bloomberg/join QuickTake Originals is Bloomberg's official premium video channel. We bring you insights and analysis from business, science, and technology experts who are shaping our future. We’re home to Hello World, Giant Leap, Storylines, and the series powering CityLab, Bloomberg Businessweek, Bloomberg Green, and much more. Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world. Visit our partner channel QuickTake News for breaking global news and insight in an instant.