LEO: Fees and Costs - Interest on Earned LE Op. 642
Fees and Costs - Interest on Earned Balance.
January 16, 1985
It is not improper for an attorney to charge interest to his client on
earned but not paid fees or on advanced but not reimbursed costs, provided
that (1) such interest is charged pursuant to prior agreement of the
attorney and client, and (2) the client is capable of paying the same but
desires that the payment be deferred for the client's convenience, and (3)
the interest rate does not violate the laws of the Commonwealth of
Virginia, and (4) the client has the unrestricted right to prepay any
balance of the fee or costs, without penalty. See: LE Op. 186B.
Committee Opinion January 16, 1985