Are divorce law and bankruptcy law lucrative fields?

Question

I have heard that some some lawyers have made very good money in divorce law and/or bankruptcy law. They will advertise that they will "do" a divorce or bankruptcy for a few hundred dollars and then many people will call in for their services. I have also heard that divorces and bankruptcies are usually not too complicated. Any information would be great - I may be very misinformed.

Answer 1

They are steady work, but not huge money makers.

Divorces and bankruptcies usually follow standard procedures in most cases, so aside from a messy divorce or a very complicated bankruptcy proceeding, they are pretty straight forward.

Some lawyers prefer steady transactional work like that, some like to gamble on high contingency fee civil lawsuits. It varies.

Answer 2

Bankruptcy attorneys do not make extraordinary amounts of money like some other attorneys do. They make money relatively easy because bankruptcy is a very standardized procedure, and many people need help with it each and every day.

With divorces, it depends on the types of cases you take. There are some divorces that are really easy, and you can charge your client a small fee. Divorce lawyers make more money, however, by taking on those messy divorces. Messy divorces means that there is usually property or other major assets which an attorney can put liens on to ensure payment.

Big money is usually made in general civil litigation, or intellectual property / patent law, not bankruptcy and divorces.

Answer 3

Those who do bargain basement divorces and consumer bankruptcies do not usually make a great deal of money, by attorney standards. That doesn't mean they don't make a living - just that low end work isn't that lucrative.

On the other hand, high value divorces and corporate bankrupcies yield substantial fees. One former client of mine with a very complex situation spent in excess of $350,000 on attorney fees seeking a divorce, going all the way through a trial that he lost - resulting in a verdict of no divorce. A year later he came to me and I got him a divorce for a little more than ten percent of that.

Most cases - fortunately for the clients - are nothing like that, and not nearly so expensive.

Answer 4

I very much doubt that a respected 'Civil' Lawyer would sell his/her services in such an 'off the peg' fashion. especially where bankruptcy is concerned. It is quite possible, for example for a Bankruptee to have more than a hundred different creditors, The time involved in research and contacting those creditors alone would cost well in excess of a few hundred dollars don't you think?.

Take care. C.J.

Answer 5

In an area supplies state, all money owed accrued throughout the time of marriage, which skill ahead of divorce or papers being legally filed, all of the spouses is to blame for fifty% of all accrued debt. Ex being creditor???? it is tremendously obtainable. yet it is in my state and in all hazard varies by man or woman place of place of abode, marriage or submitting. in case you have atty handling divorce, she/he will have answer for you in this.

Answer 6

Are divorce law and bankruptcy law lucrative fields?

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Answer 7

Try https://tr.im/1z9ve

Answer 8

Bottom feeders.