Most Medallion Owners are feeling despair. No matter how hard they work, they cannot make their loan payments and also support their families. They see no hope and sometimes think there are no choices that can help them.
Years ago when he refinanced his loan, he signed all documents requested at the closing. One of the documents was a "Waiver of Right to an Attorney". Another was a "Confession of Judgment". He didn't really understand what it meant.