As in any other business arrangement, the most important thing is not the agreement but who executes (signs) it. However when it comes to collection agencies that specialize in commercial disputes, business to business or business to individual doing business or guaranteeing a business loan to a third party lender.

Now you may think why involve a collection agency when you could use your attorney, the one you know from school or somebody that did your house closing or maybe even your divorce. Remember that lawyers specialize although their profession frowns on attorneys who only do this or that type of law.

Meaning you will know when your lawyer started a lawsuit, you will probably pay him more than the attorneys a collection agency uses, these commercial collection lawyers specialize in two things, keeping costs low and making money primarily on actual collections not fees.

So an attorney you as a lay person may know as an honest lawyer may not work out for you simply because collection law is different than say bankruptcy or real estate law. That is why in virtually every case when dealing with a collection agency that has a good reputation for honesty and effectiveness, not to mention creative collection tactics that induce the debtor to pay your bill first.

Try to remember that when a potential customer wants you to print his business cards and stationery to open his business, he will sign any type of agreement to get you to give him an interest free loan from your business in kind, as in telephone cable installation, computer supplies and machinery… that prospective client is in a terrific mood usually, very excited and hot to trot.

This is the time to get a personal guarantee because one day after the customer is late in paying you, he may stop taking your calls. Then you will remember the advice you got here today. When they are wooing you they will sign away silly, after maybe their operation got off to a slow start it somehow becomes the problem of the vendor. Trying to get a pre-nup after the marriage is going to be very hard. Go for the protection when the customer needs you badly. It will save you a lot of sleepless nights.

Richard Ackermann has been in the large balance commercial collection agency business since 1986. He began as a process server and then partnered with a famed commercial attorney who trained Richard in the commercial collections field. After a couple of years CreditResolution.com began working with major law firms as a third party collection agency for some of the most important law firms in the world. Banks are also clients of CreditResolution.com.