Posted by Would-be Solo on 1/05/07

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I have my dreams of going solo despite what all the
naysayers have to say. In the meantime, I'm trying to do
my due diligence.

Of course, I am certain that many solo practitioners have
problems getting paid by clients, quickly or at all. I am
sure some solos have used collection agencies to collect
on unpaid receivables, with mixed results.

What I'm wondering here is, have attorneys ever done what
some doctors, dentists and hospitals have done for many
years, known as "factoring", where bills to
patients/clients are IMMEDIATELY sold to a collection
agency, at a substantial discount (i.e. agency pays the
hospital 80% of the amount on the bill) and then the
collection agency bills and collects from the client
directly? Is it possible or even feasible for attorneys to
do this? I'm guessing no but it never hurts to ask.

Possible to sell your receivables to a collection agency, 1/05/07, by Would-be Solo.

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