Bankruptcy paralegals may find employment within private law firms representing individuals and businesses who are facing bankruptcy. They may also work for with banks, mortgage companies and other creditors that hold the loans which individuals or businesses are not able to repay. In the National Association of Legal Assistants’ 2010 survey, bankruptcy paralegals reported an average salary of $51,209.
Specializing in bankruptcy requires that paralegals possess detailed understanding of their state’s bankruptcy laws and procedures. Bankruptcy paralegals must pay close attention to detail, as bankruptcy cases require processing a high volume of forms and submitting them to the court in a timely fashion. Strong interpersonal skills are also important, as paralegals will be interacting with clients during a highly stressful time in their lives.
The job responsibilities of a bankruptcy paralegal may include:
- Obtaining credit reports
- Interviewing clients
- Providing ongoing communication with the client
- Communicating with other parties, including creditors, debtors, trustees and court clerks
- Drafting and filing documents required for the bankruptcy process
- Legal research, especially of the Uniform Commercial Code