Want to get paid in full and on time? Communicate, communicate, communicate

Description

Abstract: A typical law firm isn’t likely to ever receive payment on 100% of their bills. However, it can get close to that realization rate. The key is to carefully select clients and cases, and then communicate, communicate, communicate! This article discusses communication when setting a fee agreement, when working with clients when they first become delinquent, and in writing a formal collection policy. Regular communication with clients not only can help improve payment, but also can help lawyers gauge a client’s level of satisfaction with the firm’s representation.