Wilson Cole's Podcast From The Road

If you know anything about our company, then you know that we have preached for the last 27 years about always getting a contract signed. This applies to fee agreements, credit checks, and any other contract you can think of. You also want to make sure that when you create these contracts to bury safeguards in them to protect you. We previously held a webinar on how to turn a credit application into a contract, and we mentioned some of the things you should always put in them: attorney fees, collection fees, secured creditor, jurisdictional clause, and a process for any late fees or interest. That being said, it is important to put safeguards into your contract as long as you know exactly what you are saying. Lately, we have had clients come to us who put random legal words into a contract and end up with a time bomb that screwed them over on their own contract. There seems to be a new phenomenon to put legal sounding words, usually found on the internet, in a contract and it backfires! We know that the inten