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Unlocking your aged debt to augment cash flow in one easy step…
By Philip N Bristow of Vector Professions Finance
Taking silk is one of the significant highlights of many barristers’ careers. The costs associated with achieving this marque can, however, impact on an individual’s cash flow in the short to medium term.
As the application process takes a number of years, many of our clients who are looking to apply for silk will strategically plan to unlock their aged debt when they begin the lengthy process. The associated consultancy costs and application fees can be capitalized into an aged debt loan spread over a period of time to suit the individual’s budget. This offers peace of mind with the knowledge that any financial issues along the way have been taken care of in advance.
Many barristers will anticipate a temporary reduction in fees while preparing for the application in view of the time commitment involved. With funding in place, the barrister can focus on the application rather than worrying about potential financial issues.
Similarly, many newly appointed silks will factor in another temporary dip in fees during the transition process. The larger, more complex cases may take many months to complete and bill and therefore further impact cash flow.
There are additional costs to consider such as ceremonial clothing and the chambers’ celebratory party (something to look forward to when we are eventually out of the pandemic).
Some of our clients may have reduced their overdraft headroom during the application and transition period. This is particularly pertinent as many banks may have increased their overdraft interest rates. Refinancing or reducing the overdraft will free up headroom for contingency and the day-to-day running of the practice.
With more than 25 years’ experience with the Bar and endorsed by the Bar Council for ten years, we understand the complexities with which barristers are faced. Our mission is to provide fast-track, flexible funding with a quick and easy application process. We aim to obtain a credit decision within 48 hours of application with minimal information required.
Taking silk is one of the significant highlights of many barristers’ careers. The costs associated with achieving this marque can, however, impact on an individual’s cash flow in the short to medium term.
As the application process takes a number of years, many of our clients who are looking to apply for silk will strategically plan to unlock their aged debt when they begin the lengthy process. The associated consultancy costs and application fees can be capitalized into an aged debt loan spread over a period of time to suit the individual’s budget. This offers peace of mind with the knowledge that any financial issues along the way have been taken care of in advance.
Many barristers will anticipate a temporary reduction in fees while preparing for the application in view of the time commitment involved. With funding in place, the barrister can focus on the application rather than worrying about potential financial issues.
Similarly, many newly appointed silks will factor in another temporary dip in fees during the transition process. The larger, more complex cases may take many months to complete and bill and therefore further impact cash flow.
There are additional costs to consider such as ceremonial clothing and the chambers’ celebratory party (something to look forward to when we are eventually out of the pandemic).
Some of our clients may have reduced their overdraft headroom during the application and transition period. This is particularly pertinent as many banks may have increased their overdraft interest rates. Refinancing or reducing the overdraft will free up headroom for contingency and the day-to-day running of the practice.
With more than 25 years’ experience with the Bar and endorsed by the Bar Council for ten years, we understand the complexities with which barristers are faced. Our mission is to provide fast-track, flexible funding with a quick and easy application process. We aim to obtain a credit decision within 48 hours of application with minimal information required.
Unlocking your aged debt to augment cash flow in one easy step…
By Philip N Bristow of Vector Professions Finance
Update from the Chair of the Bar
By David Green
Mário Barroso, Head of R&D and Method Development at AlphaBiolabs, examines the forensic science underpinning hair drug testing, its evidential scope and limitations, and why it remains the gold standard for evidencing patterns of drug use in family proceedings
Unlocking your aged debt to fund your tax in one easy step. By Philip N Bristow
Clement Cowley, Partner at The Penny Group, discusses the upcoming changes to pensions and Inheritance Tax and the potential impact on your financial future
Save the Children UK is the latest charity to benefit from a £500 donation from AlphaBiolabs via the company’s Giving Back initiative
The Chief Legal Officer to the Metropolitan Police, barrister Brett Welch, tells Anthony Inglese CB about his mission and the work to turn the Met around
Barrister apprenticeships – shortly to provide the fourth pathway to the Bar – are an ideal opportunity to support local talent and ‘grow your own’, say Tim Coulson and Dr Jane Dennehy
Born from a grievance, their research project grew into a book and is now challenging the status quo. Emma Price and Emma-Louise Fenelon reveal the key findings – and the critical next steps
Grok around and find out – or not? Mariya Peykova investigates the nudification scandal, what the law has to say about sexually explicit deepfakes, and whether stronger regulation is needed
Oliver Lewis spotlights an overlooked yet rapidly evolving area of law – coercive and controlling behaviour within care contexts
