Legal Question in Family Law in Canada
lawyers collecting interest on money
Can a lawyer collect interest on bills owed by clients?
Asked on 11/19/07, 1:13 pm
1 Answer from Attorneys
Donald McLeod
Donald R. McLeod Law Corp.
Re: lawyers collecting interest on money
Yes; the interest rate is as specified in the agreement between the lawyer & client, and on the bill sthe lawyer has sent out. If there is no retainer agreement, the interest rate would usually be set out on the bills the lawyer has sent out anyway. Also, the Court Order Interest Act of British Columbia specifies the interest rate both before and after the lawyer obtains a judgment against the client if the client does not pay, but these interest rates do not apply unless there is no interest rate specified in the retainer agreement or in the bills.
Answered on 11/19/07, 11:18 pm