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Jan Copley
Certified Practice Advisor
Atticus, Inc.

530 South Lake Avenue, Suite 250
Pasadena, CA 91101
(626) 696-3145
(626) 421-6747 (fax)
jan@copleycoaching.com

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How Do You Get Paid?

August 29, 2012

Filed under: Billing,Pricing — @ 8:00 am

When I was practicing, I accepted credit card payments for my services. I used what was then the traditional route — a machine to swipe the card. I paid a percentage of the amount charged to the credit card processor.

It worked well. Hardly anyone carries checkbooks any more and people like to get the airline miles and other perks from using their credit cards. It meant that the credit card company financed payments, rather than me having to take installment payments. It also meant something really important — I got paid for my work.

As a result, I’m always surprised when I hear lawyers resisting taking credit card payments. They very often quote the downside of having to pay a certain percentage of the transaction to the credit card company. My response is that if the credit card company is charging 3%, raise your rates 5%. A client that won’t pay the additional 5% won’t pay what your original charge was, either.

Since I closed my practice, the financial world has created other, perhaps cheaper, ways for you to accept credit cards. Therefore, I thought it would be useful to my readers if I passed along the link to a recent posting, “Five Ways to Receive Credit Card Payments” on the Attorney at Work website. I especially like the concept of accepting credit cards that can go to your trust account — that would make it so much easier to keep an evergreen retainer.

Please let me know how this helps you!

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