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