Legal retainer financing is a resounding success for attorneys in the know.
iQualify Lending has piqued interest among attorneys with our Fortify software and legal retainer financing. Recently we sent out an email survey campaign designed to find out about interest in attorney financing. The responses are in and the answer is…attorneys are very interested in legal retainer financing products but aren’t exactly sure what Fortify is.
Out of 500 emails, over 400 responded they would be interested in legal retainer financing products. So, what exactly is our legal lending software and what does it do?
Fortify allows attorneys to offer a client every option to hire them, upfront then manages those payment plans – collecting up to 93 cents on the dollar for the cases.
Attorneys don’t want to put clients on payment plans, but clients need options that fit their budget. They’re looking for an affordable way to hire an affordable expert to win their case. This problem is so universal that 66% of clients leave their first meeting without a clear understanding of how to pay the attorney for their case moving forward. As a result, the first attorneys often become the baseline for the client to shop around and find a better price. But if the client specifically says “I can’t afford that, can you work something out?”, then the attorney only has one option – offer a payment plan. The client is looking for the lowest payment and/or to spread payments out over a set amount of time. As a result, your firm becomes the bank – and that’s bad news for attorneys managing their own retainer plans.
Jason Brown and Josh Utesch began iQualify Lending with a mind for finance, but a heart for legal and the belief in what can happen when those two things meet. “Turns out”, Jason says, “attorneys have never had options like this before. We realized most of them are putting clients on payment plans and, to no one’s surprise, they’re not very good at collecting. It’s hard being counselor and collection agent to the same client. But those same attorneys using our retainer financing tools with Fortify are enjoying up to a 30% raise, for the exact same clients.”
With a product as unique as Fortify, other legal retainer financiers are hoping you will assume cost is the only difference between them and iQualify. But retainer financing alone won’t solve the problem – not even close. There is no other program out there that will make it easier to get hired, get paid, and get out of the collections business, once and for all. Think about that for a second. We help you convert more potential clients, get you paid, and take you out of the collections business once and for all. What are you waiting for?
Tired of chasing your clients for money? Not anymore. Get hired. Get paid. Get Fortify.