The Iceberg Partnership LLP

Resolution and Iceberg announce new family law finance product

Client Credit from Iceberg is an online payment account from which we pay fee notes, disbursements and VAT (“costs”) directly to your firm as they fall due. The account can be used at any stage of the proceedings and covers costs in relation to all aspects of divorce and cohabitation including child matters and ToLATA.

We only charge interest in relation to the value of costs actually paid from the account, calculated at a rate of 1.5% per month or £15 per £1,000 of costs paid. In addition to interest, clients pay a drawdown fee of just £25 each time costs are paid from their account.

As with a credit card, clients are expected to make monthly minimum payments. The monthly minimum payment is 1.5% of the outstanding balance. For example, a client that has used the account to pay costs totalling £3,000 would be expected to make a monthly minimum payment of £45. Clients can choose to pay more than the minimum payment or repay the entire balance at any stage without penalty, which would reduce the amount of interest they pay.

For more information go to the Iceberg Client Credit Website 

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