How can we get our clients to pay our law firm?

CosmoLex Team

It’s a situation no lawyer wants to be in—following up with a client whose account is overdue. And while it’s hard to avoid challenging accounts altogether, there are a few steps you can take to bypass most potential problem accounts. Get retainers First, if you don’t already do so, collect retainers. Holding a retainer in trust for a client often … Read More

How can our law firm implement a payment plan for clients?

CosmoLex Team

Setting up a payment plan can expand your law firm’s pool of prospective clients, especially during a pandemic economy.[1] And if done correctly, it can also help reduce the bills you have to send to collections by giving clients an option to pay in manageable chunks, rather than tackling a large sum at once. But it’s important to think through … Read More

How can I make sure my law firm gets paid?

CosmoLex Team

For a law firm to be profitable, it needs to be able to collect payments for work completed. Timely billing and accounting Law firms should ensure invoices are sent to clients on a regular basis, setting expectations and ensuring bills are received near when the work is completed. Descriptive line items should also be used to convey value and make … Read More

As a lawyer, what can I do if my client won’t pay their bills?

CosmoLex Team

Collecting past due payments can be time-consuming for lawyers. There are various routes to take when a client simply won’t pay their bills, but the recommended course of action is to try to collect outside of court if possible[1]. To start, lawyers can write a payment demand or collection letter to the client outlining the original terms of the invoice, … Read More