Bankruptcy Attorney Job Profile and Description
Bankruptcy Attorneys are lawyers who specialize in handling personal and corporate voluntary and involuntary bankruptcy cases on both sides of a court litigation. They provide clients with the legal remedies to protect their assets against creditors in the event of personal or corporate financial distress on one side and protect creditor interest for debt collection purposes on the other side.
Bankruptcy Attorney Duties and Responsibilities
- Explain to individual clients contemplating on filing for bankruptcy protection on the consequences and implications of the act and provide their options and procedural requirements in the process.
- File at the nearest bankruptcy court the necessary relief petitions under the Bankruptcy Code on behalf of the client
- Oversee any debt forgiveness, estate definition and taxation, reorganization and appointment of trustees in any liquidation process for the client.
- File on behalf of the creditor petitions for involuntary bankruptcy, permissions for garnishment of collaterals and petition for relief from automatic stays granted at the time of bankruptcy filing by the debtor.
Bankruptcy Attorney Skills and Specifications
- Must have a comprehensive legal experience in legal proceeding for corporate or personal bankruptcy litigations.
- Must have excellent organizational and lawyering skills.
- Must have excellent grasp on the chapters of the country’s bankruptcy code.
- Must have excellent verbal and written communication and interpersonal skills
Bankruptcy Attorney Education and Qualifications
- A bachelor of laws degree is basic and must be accredited to practice law in the state
- At least 12-15 years of experience in corporate lawyering for a bank or creditor is a must
Bankruptcy Attorney Salary
The average annual salary of bankruptcy attorney employed in a bank or creditor firm stands at $122,000 depending on the state and holder’s qualification. Private practitioners can earn lower or higher depending on the number an nature o the cases they handle.
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