Answer the following questions "true" or "false."
(1) If you have a bill that goes past 90 days unpaid, you are seeing the first sign of potential payment problems.
(2) Attorneys are the only people in your law firm who should have responsibility for collecting receivables.
(3) Many attorneys fear that their clients consider it unprofessional to ask to be paid for their services.
(4) Clients will pay once you remind them.
ANSWERS:
(1) False. Actually, the first sign occurs after just 30 days when clients have not paid.
(2) False. It's true that attorneys know about their client relationships, but a growing number of firms are looking to professionals who have the appropriate expertise, experience, communication skills and professionalism to maintain and enhance strong client relationships while getting bills paid.
(3) True. It's true that some attorneys feel that way, but in today's world, clients tend to be very receptive to appropriate contact. The business environment has evolved and law firms must make adjustments accordingly to routinely communicate with clients to ensure timely payment or resolve problem issues.
(4) False. Frequently, they do not. Make no mistake: collections is a process and must be done timely, diligently and promptly in order to achieve the desired results.
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