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With the advent of new funding arrangements in litigation, and other pressures on their finances, the law firm's focus on the need to generate cash has never been greater. Alongside policies on quality of service, the professional firm must set up and operate a credit policy that is proactive and which successfully maximises profit whilst retaining client goodwill.
That policy must pervade the whole firm - including not just credit managers and accounts staff, but fee-earners and their support staff. Julia Walden has worked in business, in the personal injury and the debt collection departments of an international law firm. Having taken the Institute of Credit Management examinations, she moved to Lupton Fawcett as Head of Credit Control where she created their credit management system, which includes regular presentations to all levels of the firm.