Pros and Cons of Financing legal collections expenses by a third party Financing legal expenses by a third party, often known as third-party litigation financing or legal funding, is a practice where...
Working practices with external lawyers There are different working methods with external law firms. It is important to examine carefully, case by case, the interests...
Phase A: Collection at the pre-claim phase Delivery of warning letters A warning letter to the client for non-payment of the debt to the organization will include...
Phase C: Processes following legal proceedings against a debtor. Court decision Upon receipt of the judgment from the court compelling the debtor to pay all or part of the...
Managing Legal Expenses During Different Stages of Legal Proceedings Approval and payment of expenses To ensure the efficient and accurate approval and payment of expenses, adhere to the following...
Accounting for legal collections Law firms tasked with collecting debts from our clients effectively function as an extension of the organization’s collection apparatus. These...
Summary reports for legal collections Below is a list of summary control reports to monitor the end-to-end legal collections process. In the next section, we...
Incentives for lawyers and promotions for debtor clients One topic that is not obvious is why law firms should be incentivized – after all, lawyers are full partners...