After you have run explored paralegal schools near me and weight your options, you will want to consider the numerous career specialties ahead of you. Unlike what many aspiring paralegals think, you don’t have to work in a general law office. Instead, you can narrow your scope of practice and delve into a specialty area. If you’ve always had an interest in the financial industry, and wish to meld your passion for law and finance into a thriving career, then you may be interested in becoming a bankruptcy law paralegal. As a bankruptcy law paralegal, you’ll provide direct support with attorney’s and their various clients within the scope of bankruptcy proceedings. Although the general job duties of this role are similar to those of a standard paralegal career, there are unique responsibilities and requirements that are only found within this scope of practice.
Bankruptcy Law Paralegal Job Responsibilities
As a bankruptcy law paralegal, you’re responsible for assisting with every step of the bankruptcy process, which can vary based upon client and the scope of the bankruptcy. These unique cases typically involve filling out and processing a high volume of standardized forms, which must be filed with a court system as quickly as possible. Therefore, you must hold strong organizational and time-management skills.
A bankruptcy law paralegal, may also work directly with debtors and creditors. Therefore, they must be well-versed in state and federal bankruptcy laws and procedures. Some of the most common job functions and responsibilities of a bankruptcy law paralegal include:
1.) Writing and filing proof of claims within tight deadlines
2.) Gathering, organizing and filing various documentation which supports the facts of a claim
3.) Managing case files and continuously updating these files as a case develops
4.) Guiding debtors throughout the bankruptcy process – answering detailed questions and navigating emotionally-charged conversations
Bankruptcy Law Paralegal Educational Pathways
Because of the competition found within this industry, you’ll want to remain competitive by completing an associate’s degree in paralegal studies. In fact, some employers require this level of education to even consider an applicant. Although business law is briefly covered in a general paralegal training program, to really succeed within this career you should seek out additional business law training. Consider enrolling in a business law certification course or taking additional coursework within the scope of business law. When reviewing certification programs, make sure to check the requirements as many paralegal and law-centric certificate programs require a bachelor’s degree.
Bankruptcy Law Paralegal Job Outlook
According to the latest salary data, the average annual income for a business law paralegal can vary from $45,000 to $50,000 per year. However, the actual amount can significantly vary based upon employer and geographical location. The Bureau of Labor Statistics suggests that the paralegal industry is expected to grow by eight percent form now until 2024, which is average for most industries during this time frame.