Le Lézard
Classified in: Business
Subjects: PDT, LAW, SBS

New Attorney Retainer and Legal Fee Financing Helps Law Firms Increase Revenues and Reduce Lost Profits


PORT ST. LUCIE, Fla., Oct. 23, 2019 /PRNewswire/ -- Flexxbuy (www.Flexxbuy.com) has announced a game-changing option to bundle its in-house financing platform in a way that makes it the most robust solution in the industry. Lawyers, in particular, are now able to offer legal fee financing to every prospective client they choose to represent, regardless of credit.

With two different financing options to fit any client's individual needs or preferences, attorneys will never again have to worry about reducing their retainer or legal fee, or turning away a potential client.

Formal Opinion 484, handed down by the ABA Standing Committee on Ethics and Professional Responsibility, clarified attorney fee financing and how it is used in practice, opening the door for lawyers that were uncertain on how to utilize it. According to Barbara S. Gillers, chair of the committee, 75 percent of low-income and middle-income individuals have legal needs that go unmet for financial reasons.

"Attorneys have been a very strong category for Flexxbuy since our inception, but there was occasion where lawyers were uncertain on how their local bar association would view legal fee financing," explained Bob Lovinger, President of Flexxbuy. "Now, there is never a question of whether or not a law firm can utilize it."

Flexxbuy's new legal fee financing bundle program gives attorneys a multi-lender platform that can approve prime to sub-prime individuals, plus an in-house, third party managed no-credit check payment plan option for those individuals that don't qualify for the third party financing.

Ease of use is key to Flexxbuy's long-running success. It provides its clients with a customized loan application environment and all the systems and support that make it almost seamless and effortless. Its core lender platform generates approximately $350 million of loan applications each month.

Lovinger added, "Today, it is so important for businesses to have as many payment options as possible and remove inability to pay as a reason for losing a prospective sale. This is more true for lawyers than just about any other business, who are often across the desk from an individual who came about an unexpected significant expense."

Flexxbuy provides attorneys with a last line of defense when no other resources are available. One online application is submitted to as many as ten lenders who provide decisions within a matter of seconds. There is no hard credit pull that results in a credit report inquiry, so it is truly risk free.

About Flexxbuy

Flexxbuy is a U.S. leader in providing businesses with in-house customer financing through online multi-lender platforms and niche lenders. Its core strength is its product diversity allowing the company to not be a one-size fits all solution.

Contact:         Lyndsey Brooke
Phone:            772-618-2638
Email:             [email protected]

SOURCE Flexxbuy


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