Legal Fee Financing: What is It and How to Offer It
Adding legal fee financing as one of your available payment methods can make a massive difference for your firm
Legal Fee Financing With Pay Later
Pay Later, formerly ClientCredit, is a legal fee financing solution powered by Affirm and exclusively available through LawPay. With Pay Later, you can receive the full invoiced amount at the start of an engagement while allowing clients to pay their legal fee loans over time in automated installments.
Get paid now, let your clients pay later.
More Reliable Cash Flow
Pay Later, previously ClientCredit, helps mitigate the risk of late and non-payments. Your firm receives the total invoiced amount upfront, while clients get an automated payment plan that meets their financial needs.
Faster Payments
With traditional legal fee funding, you receive multiple smaller deposits. Allowing clients to use Pay Later means you can secure your full requested amount in advance.
Better Client Acquisition
Adopting an online payment solution that enables you to offer flexible payment options such as credit, debit, eCheck, and legal fee financing instantly makes your firm more appealing to potential clients.
LEGAL FEE FINANCING BENEFITS
Improve your collection rate and decrease outstanding accounts receivable
Pay Later, formerly ClientCredit, enables you to easily accommodate the evolving payment preferences of modern legal clients and cut down on time spent chasing after overdue invoices.
Offer clients a more flexible payment experience
Rather than having to find a way to pay one large lump sum, your clients can use legal fee funding to secure legal representation and still allocate funds for other expenses.
Increase your pool of prospective clients
Pay Later opens up access to legal representation for people who want an alternative to credit cards. It’s also an attractive option for prospective clients who have a credit card but would prefer not to charge a large amount.
Get more time back in your day
Along with giving you the power to offer automated legal fee financing through Pay Later, LawPay simplifies and streamlines the overall invoicing process and makes it easier for your clients to pay.
ClientCredit Testimonials
With the introduction of ClientCredit from LawPay, We're able to collect the money upfront, and the client can get on a payment plan they can afford.
- Adam Cohen, Managing partner of Ticket Crushers
Want to see what else LawPay users have to say about our solutions? You can check out more reviews on our G2 page.
Frequently Asked Questions
What is legal fee financing?
What is the difference between legal fee financing and payment plans?
Why should I offer legal fee funding with Pay Later?
How does my law firm receive funds?
Are there any consequences to my law firm if the borrower doesn’t pay?
How and when will I be paid?
Is Pay Later different from ClientCredit?
What is the legal fee financing application process for my clients? How quickly do they get a response?
Is there a transaction size limit for Pay Later? Is this a line of credit or tied to the specific transaction?
Can Pay Later be used for payments into trust (IOLTA) accounts?
Is there any cost to the law firm related to Pay Later? Can I pass this fee on to my client?
How do refunds work with Pay Later?
Does the American Bar Association (ABA) have a stance on legal fee financing?
How do I let my clients know about Pay Later?
How do I get Pay Later?