ENABLING LAW FIRMS TO FREE UP CASH WITHOUT COMPROMISING ON COSTS CLAIMS

Gain access to funds tied up in lengthy costs negotiations while staying fully compliant with SRA client money rules and banking terms. The SpectraLegal Costs Account allows law firms to quickly and simply receive advances of up to 70% against their costs and disbursements.

The facility operates like a bank account, allowing you to draw funds as and when needed, and provides you with the cash required to grow your business without the administration and cost associated with file-by-file loans.

KEY FEATURES

  • Flexible & fully compliant revolving facility.
  • Interest rates of 1% per month
    (rates may be lower for large loans).
  • No hidden costs such as service charges or drawdown fees.
  • Ready access to cash as and when needed
    (not limited to file-by-file drawdowns).
  • No personal guarantees required.
  • Secure and easy-to-use online platform.
  • Interest can be added to the facility.

THE RESULT

  • Improved profitability for the law firm.
  • Removes the need to accept early (lower) cost settlement offers.
  • Less administrative burden and lower cost than file-by-file facilities.
  • Helps firms protect the legal interest of their clients while generating higher legal fees.
  • Cash is freed up for any business purpose such as marketing and investment in growth.

 

For further information, please contact us

View details of our WIP & Disbursements Facility

View & download this page as a fact sheet (PDF)

Costs Account Fact Sheet