Law firms, large and small, have few meaningful tools for assessing the credit risk of a new business client. Standard credit reports only do so much to screen prospective clients and encourage prompt payment. Litigation to collect an unpaid legal fee costs a lot of money and wastes time.
CreditLex changes the game.
CreditLex is a transformative tool that allows law firms to reduce write-offs, establish meaningful retainers, and avoid clients with poor payment histories relative to legal services. CreditLex shows that a law firm takes payment seriously, from the inception of a matter until final payment is made.
Besides helping law firms avoid non-paying clients, clients who pay the agreed amount on time will benefit from good credit within the industry. It makes engagements easier for everyone involved.