Attorney Fees
- Overview
- About Retainer Deposits
- I Am Not A Credit Card
- Current Flat Fee Schedule
No one likes unwelcome surprises. Certainly not when it comes to attorney fees. Yet there is often extreme confusion over what a "retainer" is.
A retainer is a deposit. It is YOUR money. You can liken it to your own checking account only the attorney can write checks against it. An attorney only withdraws money from YOUR deposited retainer when (1) costs are incurred on your matter, or (2) when the attorney bills you for his earned fees. Earned fees are usually based on a flat fee agreement, an hourly rate agreement, or a percentage of the money only upon receipt of payment when there is a contingency agreement. The contingency agreement still requires a retainer because you are responsible for all costs incurred in your case.
A retainer amount must be kept at the same balance every month. For example. Say you deposit $5,000 as a deposit and we have a contingency agreement. I don't get paid until you do. However, this month I spent $1,500 in costs such as filing fees, depositions, etc. I bill you $1,500 this month even though there is still $3,500 in your account. You must pay that $1,500 upon receipt of the bill. Any questions? Call or email me. The last thing I want is any misunderstanding.
I am not a credit card. I am not a bank. If you do not pay then I charge a very high rate of interest because I want you to get funding from a credit card or bank or other source to pay your fees. It is not being mean or ugly. It is just that I do not have the time or patience to deal with collecting from you. If I have to collect from you, then there will be a lot of interest plus additional attorneys fees. Don't do it! Just keep your retainer current and pay your bills on time and we will have no problems over fees.