Money matters: it matters to you, and it matters to your clients. On today’s episode, Richard Jacobs discusses how to make more of it in the form of better client retention—47% better, while at the same time removing the financial burden from your clients. To achieve this, Jacobs has decided to implement the iQualify Lending system into the Virtual Closing system on a permanent basis. He is joined by President/CEO of iQualify Lending, Jason Brown, who discusses the ins and outs of the system and precisely how it will benefit you.
According to a survey conducted by Cleo and iQualify Lending, 63% of clients leave the first meeting with an attorney feeling confused or unsure about the next steps and how to pay for their case. iQualify Lending is honing in on this by meeting clients where they are financially, allowing them to say “yes” rather than “let me think about it.” They are doing this by offering three payment plan options for the client, which provides the attorney with full payment—less a 5% fee—within just 72 hours.
This allows the attorney to focus on the legal aspect of the case without a single worry about how or whether or not they’re going to get paid. If the client stops paying at any point, it will be an issue that’s managed by the lender rather than the attorney. This has the incredibly valuable effect of removing the emotional component of collecting money and entirely separating the attorney from the financial side of legal representation. This will yield more relaxed and better-behaved clients, as well as lower the chances of negative reviews fueled by money issues.
iQualify Lending is bar compliant in every state, has been providing loans for attorneys for five years, and is currently servicing attorneys in 47 states. Just last year alone, they gave offers to $357 million in fees. Brown explains all the nuances of the iQualify Lending system, including the steps of the application system and the details of the fee to the attorney.
To get started and be up and running within 24 hours, visit https://www.iqualifylending.com/.
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