The article is devoted to the topic of developing the psychological competence of a lawyer as a professionally important personal characteristic in the context of considering his professional success from the point of view of economic theory. The analysis of economic risks in the field of legal practice in the specific area of bankruptcy of individuals is carried out, the factors of professional success of a lawyer in the process of interaction with debtor citizens are revealed. A practical study conducted among practicing lawyers is presented, which identifies the main indicators of their psychological competence, and proves its role as a means of improving the interaction of participants in legal relationships in the process of bankruptcy of individuals. Based on the results of the diagnostic study, the conditions and opportunities for the development of psychological competence of lawyers were determined through a special psychological training program developed taking into account the current requests of lawyers practicing in the field of bankruptcy of citizens. The importance of the psychological competence of a lawyer practicing in the field of bankruptcy of citizens as a professionally important personal education is substantiated. The need for a lawyer to have highly developed competencies in the psychological field in order to build effective interaction at different levels and the presence of diverse social contacts in the performance of professional tasks is proved.