The Art of Getting Something from Nothing
(or how to turn old and cold law firm receivables into cash)
There are plenty of headaches to contend with when it comes to running a law firm—keeping the partners’ egos in line, juggling the deadlines, staying up to date on the latest practice technology. But for many law firms, there’s no bigger headache than dealing with uncollected receivables. They can pile up quickly, irrespective of results obtained or the quality of the legal services provided. Some clients just don’t pay, at least until you pressure them.
Some don’t pay even with polite pressure. What then? Good lawyers often prove to be completely inept when it comes to the all-important task of actually getting paid. It also can be uncomfortable, even humiliating. As a result the problem tends to be ignored. We all know that does not make it go away.
There are alternatives. You could retain debt collection counsel, but who to hire? Will they embarrass your firm? Are they ethical and capable? Will they be responsive and satisfy your standards? You could make a mistake by choosing unwisely.
We are a safe and comfortable option to consider. We are a Martindale-Hubbell AV© rated law firm, with an impeccable reputation in what sometimes is justly considered an unsavory business. Our firm has a great track record when it comes to commercial debt collection and judgment enforcement. Our firm has extensive experience collecting receivables on behalf of law firms, including collection work undertaken for trustees in law firm bankruptcies, when some clients seem to believe that payment of fees they owe has become optional. Hardly.
We are tenacious, yes, but we also play by the rules. As U.S. District Judge William Pauley of the SDNY acknowledged in a recent opinion: “[S]omeone with less resolve than ..Mr. D’Orazio would have thrown up their hands at the kind of obstruction that the [defendants] engaged in.” References are available on request.
Because we typically take on debt collection matters on a contingency fee basis, there is no risk of throwing good money after bad as you try to collect on old receivables. If you are curious about retaining us, we will undertake a no-risk, confidential and free evaluation of your potential case. We also will review any open money judgments you may have obtained, if you think they may be collectable. Contact Bernard D’Orazio (firstname.lastname@example.org) if you would like to learn more about the fine art of getting something from nothing.