Solo Practice

Very often I get e-mails from young lawyers asking what practice areas they should pursue.  Invariably, I suggest they learn bankruptcy.  I'm ususally met with, "I'm really not interested in that...or the laws are too tricky."  Well, quite often when you are starting out you have to go where the opportunities are to leverage yourself for those areas you ultimately do want to practice.

In this article from the ABA Journal, Big Law declares bankruptcy is going to be 'hot' this year.  It feels awkward to declare financial failures as the 'hot' new practice area but if you've been reading this blog for any length of time you know I have been strongly suggesting new lawyers get into bankruptcy as far back as November 2006.  The reason: to encourage you to get in front of the wave so you had some expertise when the tsunami hits.  And it's hitting. 

When the bankruptcy laws changed many lawyers got out because they didn't want to adapt.  This left a void  and a tremendous opportunity for new lawyers.  I don't believe it is too late to start learning because sadly we will be seeing a significant rise in bankruptcies for many years to come.

Start learning today. You will be busy and you will be helping people at a very critical time in their lives.

Related Links: More Reasons Bankruptcy is a Good Practice Area for Solos  (You will fined numerous links in this article including a guest post by Richard Maseles)