Do You Know Bankruptcy?
Updated: May 14
Unfortunately, the need for bankruptcy protection will increase for individuals and businesses of all sizes in the coming months. This increased demand follows years of level and even decreasing insolvency filings, and thus, fewer attorneys practicing in the area. And the increased need for bankruptcy representation applies to debtors and creditors. And the skills won’t simply be bankruptcy filings, but will include loan workouts, mortgage foreclosure issues, defaulting secured transactions, construction contracts, leasehold interests, and many more.
Do you know bankruptcy?
Do you have experience in one of the many areas that will come into play with troubling financial times? If you do, or if you are willing to brush up on them, there will be many who need your help. And that is why you chose to be a lawyer, isn’t it? To help people?
How will they find you? How will they know what you do? From a billboard? From an ad in the telephone book? Times aren’t good, but they have changed.
Legal consumers of every type – individuals, small businesses, and large corporations – have gotten much more sophisticated since the last big demand for bankruptcy lawyers. And everyone is online now more than ever. How are they going to find you? Digitally.
Today, your website is your first opportunity to communicate with potential clients.
They go to the internet looking for you specifically or looking for someone like you – with your knowledge, skills and experience. Will they find you? Will your website distinguish you from everyone else? Will they learn what you do there? Is at least part of your website focused on these areas that they are looking for? Will they understand how you can help them?
A large number of potential clients continue to ask friends, family and coworkers for recommendations on a lawyer, but they are much less likely to for bankruptcy-related issues because of their embarrassment.
Regardless, those individuals whom they may ask need to know who you are and what you do. These could be your former clients or others with whom you have a business relationship. Do they know you know bankruptcy? Do they know you can help people dealing with these issues? Will they recommend you?
You probably have a large network of lawyer friends and colleagues. While bankruptcy may not have been a large part of your practice recently, do they know you are capable (and desirous) of taking on clients in bankruptcy or related matters?
How are they going to help you and help their friend, family member or coworker? And if they do recommend you, what do you think that potential client is going to do first? Look at your website.