Law Practice
Nov. 20, 2009
Get Paid: Managing Collection Practices
Dan Knise and Eileen Garczynski of Ames & Gough explain why, in good or bad economic times, some law firms get paid more quickly.
By Dan Knise and Eileen Garczynski
With more law firms' clients facing financial problems than in the past, managing collections more diligently has become a necessity. The impact of not getting paid is significant. Depending on a firm's profit margin, writing off a $100,000 receivable can be the equivalent of giving up $500,000 in gross fees - not something many firms can afford when revenues are declining. In good economic times and bad, some law firms are able ...For only $95 a month (the price of 2 article purchases)
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