The State Bar Association of North Dakota Winter 2014 Gavel Magazine | Page 16

Credit and debit card acceptance is an essential

payment is late, your firm is essentially extending

practice management tool that is often overlooked

credit to clients and putting your receivables at risk.

as a means to increase revenue and cash flow.
Many clients, including prospective clients,
prefer the convenience of paying with credit or
debit cards as opposed to checks. Opening a
merchant account for your firm is a simple process
and immediately gives more control of your
receivables. Why turn away a prospective client
who wants to use your law firm’s services and has
the means to pay promptly?

Unfortunately, a legal bill is one of the easiest
expenses not to pay. Historically, law firms do
not report to credit agencies or enforce late
fees. It is also tricky to sue a client for unpaid
fees. The simple fact is banks do underwriting,
attorneys don’t. Take advantage of the card bank’s
underwriting department. If a Visa or MasterCard