Re: Bankruptcy and Solo Practice

More | Report Post

L,

I do remember you making these points, and you were right.
Bankruptcy was working for me though. I was doing very well
with it. I think I could work another practice area, but I dont
want to. They suck.

On 3/08/06, L wrote:
> 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 BK is out, estate taxes are expected to be all repealed,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.