Estimate the monthly payment and total interest if you pay a legal bill over time through a plan, loan or card.
Many people pay legal fees over time, either through a payment plan written into the fee agreement, a personal loan, a third-party legal fee financing program or a credit card. This calculator shows what that choice costs.
Enter the balance you want to spread out, the annual interest rate, the repayment period and any upfront charge. The tool uses the standard amortization formula: monthly payment = P x r / (1 - (1 + r)^-n), where P is the balance, r is the monthly rate (APR / 12) and n is the number of months. With the illustrative defaults, $8,000 at 12% over 2 years is about $377 a month, or roughly $1,040 in interest. At 0% (an interest-free plan from the firm) the same balance is $333.33 a month with no interest.
Compare those figures with what you would actually pay the firm. Some lawyers offer interest-free installments for a modest fee; others charge interest on overdue invoices at a rate stated in the agreement, subject to state law. The rate you enter is your own input, not a market rate.
This tool assumes a fixed rate and equal monthly payments. Credit cards with variable rates, promotional periods or minimum payments behave differently, and missing a payment can trigger late fees or a stop in work under some agreements.
Estimates and Hiring Checklists
How lawyer payment plans work, what financing legal fees by loan or credit card really costs, and the risks of pre-settlement funding, with a worked example.
