Re: Bankruptcy and Solo Practice

More | Report Post

On 3/08/06, Guru wrote:
> > 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.

Guru,

that's one of the points i tried to make before: there are
only a few viable practice areas for solo's and they are
dwindling one by one, increasing pressure in the fewer
remaining areas and eventually driving the vast majority of
solo's out of business.

for the dunces out there:

the few viable areas for solo practice were: PI, divorce,
criminal, BK, estate planning and immigration, just about.
BK is out, estate taxes are expected to be all repealed,
tort reforms are hurting PI business ..., the previous
practitioners of the defunct areas move onto other areas,
intensifying competition to the point where no practice
areas is viable any more.