Ethics Committee Formal Opinion #1988/9-25
Charging Interest on Unpaid Statements
November 9, 1989
ANNOTATIONS:
An attorney may charge interest to clients on unpaid fees, as long as two conditions are met: 1). The attorney must comply with applicable federal and state laws. 2). Each client must be notified in advance of the proposed interest charge and must agree to that charge. (Rule 1.5(a); Rule 7.1(a); Rule 8.4(b).)
QUESTION:
May a New Hampshire attorney charge interest of 1.5% per month on fees billed to clients that remain unpaid for 30 days consistent with the New Hampshire Rules of Professional Conduct?