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WHAT WE’RE WATCHING
FEES PLEASE – Law firms are taking longer to send out their bills to get paid by their clients, David Thomas reports. Across the U.S., the amount of time that has elapsed from the first recording of billable hours to getting money in hand has increased by 1.5%, according to Citi Private Bank’s Law Firm Group. In addition to law firms’ foot-dragging when it comes to collecting fees, clients are taking longer to pay, with previous 30-day pay cycles becoming a 45- or 60-day pay cycles.
