Tag: legal fee financing

An Attorney's Worst Nightmare 3 months ago

Does this story sound familiar?

As attorneys, we’ve all been in this situation before: your heart sinks as you receive an email from your payment processor stating your client’s monthly retainer payment of $400 has been declined, disputed, or—worst of all—charged back, returned, etc. The disputed amount gets taken out of your account immediately and you’re left with no recourse to prove the charge was authorized. Even if you do provide proof, you have to wait up to three months to see that money returned. 

These kinds of financial nightmares occur all the time. It doesn’t seem, at first, like they have that large of an impact on your bottom line. But after it happens to you several times in a month, you start to feel panicked. It starts to make an impact on your life, from paying bills to making rent. Is this your new, terrifying status quo? Aren’t lawyers supposed to be financially secure? Chasing payments and going after clients to get paid is not the job you took the bar exam for. 

You might resolve many of these issues over time, but as they start stacking up you feel like the nightmare will never end. Dealing with legal lending challenges and going after retainer payments causes a “bad vibes” avalanche that, if left to snowball, can spread and cover all aspects of your life…affecting your staff, the family you go home to, and your caseload of other clients that are paying on time. Everyone has to get paid and you’re carrying the stress of how that happens.

The byproduct of all this instability is that fear and desperation can set in. Fear is why we’ve all made the mistake of trying to milk every client upfront. Losing clients to cost leads to desperation, desperation leads to frustration, and clients can sense it. The avalanche spreads…This happens daily, all across the country, in firms and practices both big and small. Older, established firms deal with it and new, hardworking young lawyers deal with it too. The legal retainer financing problem plagues all. However, the smartest attorneys—the ones who keep searching, learning, and pursuing ways to improve their careers—all seem to land on the same solution for the problem. They’ve found the holy grail of legal payment management. They’ve found iQualify Lending. 

iQualify, powered by Fortify, will cure your retainer financing headache once and for all. You’ll be able to get back to doing what you were meant to do…practice law. iQualify provides a legal lending solution that attorneys across America are using daily to sign more clients, make more money, and get rid fo the stress of chasing clients for money. It’s affordable and can start fixing your practice’s financial problems immediately. Our client payment management system builds a structure of financial stability in your practice. It doesn’t happen overnight, but the change iQualify brings to your business frees up time and is the key to moving forward and conquering your law practice without fear!

Achieving financial stability for your law practice with iQualify is a three-step process. 

  • Step 1: you sign up and get the Fortify software
  • Step 2: getting clients signed up, stress melts away
  • Step 3: financial stability and YOU practicing law, not collections 

Ready to see how it works? Reach out to us right now and see for yourself how iQualify Lending can vanquish your fears, make you more money, and get you on the path to success today.

Build a structure of financial stability into your law practice. 4 months ago

You’ve heard the adage about “teaching a man to fish”, or the one about helping plant the corn, or the fruit-bearing tree — well, you can insert your favorite food/work metaphor here. We’d like to challenge you, our attorney friend, to really think about the fruit your tree is bearing. Is there enough to sustain your practice? Does it bear enough to feed your family? Your community? 

Taking care of yourself first is not a selfish way to live. It is only through being the planter, someone who recognizes the important stages and cycles of preparation, growth, and harvest, that you can reap enough bounty to take care of your loved ones and community. The same is true with your business today, and especially law. Your relationship with clients, especially the explanation of payment, needs to be taken in steps in order to operate successfully. iQualify’s payment management software takes the most important steps for you. Start using it and get back time and money you might not have realized you were losing. Within 30 days, you’ll be saying “yes” to more clients and start seeing the benefits of your well-laid plans with iQualify. 

What are you talking about and how does it relate to my law practice?

Just as there are no instant-harvests, there are no get-rich-quick schemes. Did you know it takes an average child until 12 to have an intermediate mastery of the English language? Just like having the alphabet down in middle school doesn’t make you Shakespeare, simply being a lawyer doesn’t make you rich. Everything has to grow and be nurtured, including your law practice and your relationships with your clients. iQualify, powered by Fortify, does exactly that. Our client payment management system builds a structure of financial stability into your practice. It doesn’t happen overnight, but rather the changes iQualify brings to your business frees up time and is the key to unlocking the next stage in your law practice. 

 

Doing things in stages helps deliver clarity. Think about a dinner party: you have to set the table, cook the food, get the house ready, plate the food…all in stages. You don’t just throw the scallops down on the table before they’re ready. Achieving financial stability for your law practice with iQualify is also a process in stages: 

    • Stage 1: you sign up and get the Fortify software
    • Stage 2: getting clients signed up, stress melts away
  • Stage 3: financial stability feeds the office, your family, and community

How do we invest in the community and ourselves after that? Planning to support a future we didn’t know we were going to have is difficult. But once you’ve taken the steps to simplify and streamline the collection and payment side of your practice, you’ll find so many more opportunities opening up. You could give your newfound free time to Big Brothers or Sisters, or volunteer at a food bank or homeless shelter. You can make larger donations to your favorite nonprofit or a charity close to your heart. Find some way you’d love to help your community, and, once financially solvent yourself, give back! 

Give iQualify a look now and sign up so you can start reaping/harvesting/feeding your law practice sufficiently in 2020. Insert your own food/work metaphor here. 

How to Wrangle Control of Your Practice 5 months ago

If you’re going to make one change this year…Wrangle Control of Your Law Practice!

Sometimes it’s not about chasing money from clients. It’s about having the money you need to control the growth of your business.  

You probably want to take on as many clients as you can. Let’s face it: this is a business and you need to make money. But how many times have you taken on a client only to then realize they were a bad fit as they showed up late, were hard to communicate with, made you chase their payment down, or were, in general, a hassle? 

Brian Tannebaum from Above the Law believes in “the philosophy that sometimes the best client is the one you turn down.” The idea is “Client Control” and it basically means that controlling clients is controlling your business and you have to set those attorney/client relationships up correctly at the beginning of the relationship, laying the parameters and taking charge. 

How iQualify Lets You Take Charge

iQualify’s unique software puts you in control of how you get paid. Solving the “problem” of when you’ll get money from your clients  gives you control of your practice in several ways: 

Investing in long-term goals – with more money going into your law firm’s bank account at a dependable rate, you’ll be freed up to invest more wisely, pay off debt, and make sound financial decisions.

Bounce back faster from setbacks – bad things happen all the time, and attorneys are certainly not immune to financial or health disasters. If you’re financially sound, you’ll be much more in charge of how you come back from adversity, how long it takes, and how much damage it actually does to your law practice.

Take care of your family and community! – as we’ve mentioned before, one of the most satisfying (no, the most satisfying) parts of making and keeping more money is being able to provide for your family and give back to your community. Happiness doesn’t come from money, but it sure helps, as it provides the agency to give and help others. 

Control is a destination and we can give you the tools to get you there.  

iQualify’s software is only for attorneys who understand the value of being able to say yes to more clients…the right clients.  

Wrestle your law practice and life back away from overbearing clients that are the wrong fit! Let iQualify, powered by Fortify, make this the year you fully take control.

 

Be the Better Gold Miner 6 months ago

How effective is iQualify Lending at wrangling control of your legal practice? 

It’s like mining for gold. It’s all about mechanization. 

Say you’re sloshing through a creek with a magnifying glass, looking for gold…that’s kind of what every day feels like as an attorney, right? You’re hoping to find gold in the creek with each new client/strike of the pickaxe. With iQualify Lending, you take all the legal clients in your area, stick them in a sifter and let us find all the gold in your creek by using mechanization.

Technology has changed the way the best lawyers make their money, grow their practice, and manage their business over the last 15 years. This new chapter in mechanization has improved efficiency and profitability for most industries and it’s finally made its way into finance via the software attorneys use. Legal retainer financing, available through iQualify and powered by Fortify, is the best thing to happen to the industry so far. Using iQualify is like being given access to a treasure map with a giant “X” marking the spot where the gold can be found….all you have to do is dig. Think of each shovelful as one application of Fortify, iQualify’s software. 

iQualify Lending helps you start building the structure of financial stability. It’s great if you have an 80% collection rate, but at what cost? Are you still doing all the work? Mechanization/technology frees up time and is the key to unlocking the next stage in your law practice! 

If I told you I had a treasure map and endless gold nuggets to find, when would you stop digging? The answer is probably never! 

Every dig through this soil has the opportunity to strike gold. Technology makes it even easier. And, just like in life, nothing feels better than striking gold…or getting paid upfront. If you’re ready to start being a better gold miner, learn more today and let’s get started. 

Feed Yourself First This Holiday 6 months ago

You’ve heard the adage about “teaching a man to fish”, or the one about helping plant the corn, or the fruit-bearing tree — well, you can insert your favorite food/work metaphor here since it is the holiday season. In the spirit of Thanksgiving, what better time to challenge you, our attorney friend, to really think about the fruit your tree is bearing. Is there enough to sustain your practice? Does it bear enough to feed your family? Your community? 

 

Taking care of yourself first is not a selfish way to live. It is only through being the planter, someone who recognizes the important stages and cycles of preparation, growth, and harvest, that you can reap enough bounty to take care of your loved ones and community. The same is true with your business today, and especially law. Your relationship with clients, especially the explanation of payment, needs to be taken in steps in order to operate successfully. iQualify’s payment management software takes the most important steps for you. Start using it and get back time and money you might not have realized you were losing. Within 30 days, you’ll be saying “yes” to more clients and start seeing the benefits of your well-laid plans with iQualify. 

What are you talking about and how does it relate to my law practice?

Just as there are no instant-harvests, there are no get-rich-quick schemes. Did you know it takes an average child until 12 to have an intermediate mastery of the English language? Just like having the alphabet down in middle school doesn’t make you Shakespeare, simply being a lawyer doesn’t make you rich. Everything has to grow and be nurtured, including your law practice and your relationships with your clients. iQualify, powered by Fortify, does exactly that. Our client payment management system builds a structure of financial stability into your practice. It doesn’t happen overnight, but rather the changes iQualify brings to your business frees up time and is the key to unlocking the next stage in your law practice. 

 

Doing things in stages helps deliver clarity. Think about Thanksgiving: you have to set the table, cook the food, get the house ready, plate the food…all in stages. You don’t just throw the turkey down on the table before it’s ready. Achieving financial stability for your law practice with iQualify is also a process in stages: 

 

  • Stage 1: you sign up and get the Fortify software
  • Stage 2: getting clients signed up, stress melts away
  • Stage 3: financial stability feeds the office, your family, and community

 

How do we invest in the community and ourselves after that? Planning to support a future we didn’t know we were going to have is difficult. But once you’ve taken the steps to simplify and streamline the collection and payment side of your practice, you’ll find so many more opportunities opening up. You could give your newfound free time to Big Brothers or Sisters, or volunteer at a food bank or homeless shelter. You can make larger donations to your favorite nonprofit or a charity close to your heart. Find some way you’d love to help your community, and, once financially solvent yourself, give back! It’s the perfect way to celebrate the spirit of the holidays.

 

Give iQualify a real close look this holiday and sign up so you can start reaping/harvesting/feeding your law practice sufficiently in 2020. Insert your own food/work metaphor here. 

 

Happy Holidays from iQualify!