Posted by Guru on 3/08/06

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As most of you know from reading this board, bankruptcy
practice is kaput. The reasons are many. Now, I just
read Suze Orman saying that "Bankruptcy is no longer
available." That's what the public believes and it is
largely true.

What is happening to all of the bankruptcy attorneys?
This is where it is getting interesting. Most are not
going out of business. They are moving to other practice
areas, increasing competition for all attorneys,
especially solos.

Not many people considered what would happen to the
bankruptcy attorneys. Most assumed business would bounce
right back. It isn't, and one bankruptcy expert says it
wont come back for years. She is probably right.
Business was expected to drop off considerably in November
and December, and then resume an upward trend in January,
and be back to normal at some point during 2006. January
and February were no better, and March is looking dismal.

So, back to my original point, bankruptcy attorneys are
not going out of business. They are now doing divorces
and dui, and personal injury. Non-bankruptcy attorneys
are feeling pressure. I know this from talking with them,
and it only makes sense. Bankruptcy, a booming and
lucrative practice, is now dead. This sets up a major
shake out for the consumer distress (criminal, divorce,
pi) attorneys. I predict that a huge number of solos and
small firms will go out of business this year. Aspiring
solos here should take note.

Re: Bankruptcy and Solo Practice, 3/10/06, by Rob.

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