Professional Fee Funding: Explained - PowerPoint PPT Presentation

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Professional Fee Funding: Explained

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  1. Professional Fee Funding: Explained Often Professional Fee Funding and debtor financing are confused. In fact, there are many differences, so keep reading to understand more about Professional Fee Funding. Simply, it is often described as FeePay, a short-term cash flow funding product that is aimed at professional service firms and their clients. It gives clients the option of choosing between direct debit, credit card, or BPAY as well as single lumpsum payments or multiple instalments. They can easily split the professional fees into various smaller chinks.

  2. Finance for Legal Fees Besides the payment of insurance premiums, professionals can also utilize this financial instrument in a way that suits their practice. For lawyers and professionals consulting for both small-and large-scale businesses, due to different reasons, professional fees owed to them by their clients may not be paid on time. This may affect a professional’s level of productivity and may even result to law suits and litigations which both parties will want to avoid.

  3. There is choice There is much more flexibility with Professional Fee Funding. For example, clients can pay their invoice in various levels of installments if they want to. That way clients can choose an option that suits them and allows them to be in control and be open and transparent with their accountant. On the other hand, for those people who take advantage of this, they may often pay late, which is difficult.

  4. Insurance Premium One clear example of an investment debt is insurance premium funding. We all know the immense benefits of buying an insurance policy but your contract with the insurance company is only valid for as long as both parties maintain their contractual obligations. Many people are afraid of taking up insurance for some reasons even if they know the benefits they stand to gain. Some of their fears are: - Mounting domestic debts - Fear of being able to pay premiums when due - Too many financial obligations among others

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