Bankruptcy AttorneyJob Description, Salary, Career Path, and Trends

Bankruptcy attorneys specialize in helping their clients use the court system to reduce or eliminate debts, file for bankruptcy, or seek unpaid debts. They can work with individuals or with businesses, representing debtors, creditors, creditors’ committees, or bankruptcy trustees. Bankruptcy attorneys work in and out of the courtroom, either creating debt restructuring plans for debtors to help them relieve debts or trying to extract as much owed money as possible from debtors on behalf of creditors.

It’s essential for a bankruptcy attorney to not only have an in-depth knowledge of federal and state bankruptcy laws but also skills in litigation, math, and negotiation. A background in finance is also attractive to prospective employers.

Sample job description #1

Responsibilities include

  • Assist in handling cases from start to finish in collaboration with the senior attorney, including making court appearances
  • Help manage client and opposing counsel relationships
  • Research and draft legal briefs and memos addressing complicated legal issues
  • Manage and coordinate with partners, paralegals, and assistants regarding matters
  • Manage multiple deadlines and tasks for various clients at once

Candidate qualifications

  • 5+ years of bankruptcy experience. Exposure to chapter 7 and 11 cases and plan confirmation process a must
  • Strong legal writing and research skills are paramount
  • Ability to manage multiple matters and stay on top of deadlines, strong organizational skills
  • Ease in dealing with clients and communicating with opposing counsel
  • Positive attitude, proactive, team player, thrives in a fast-paced environment addressing sophisticated client issues

Sample job description #2

Specific duties and responsibilities

  • Review and execute Payment Change Notices, Post-Petition Fee Notices, Transfers of Claim, and Proofs of Claim
  • Conduct Chapter 13 Plan Reviews
  • Attend court hearings (both telephonic and in person)
  • Prepare Motions for Relief from the Automatic Stay, Objections to Chapter 13 Plan, and various pleadings associated with the representation of secured creditors in bankruptcy matters
  • Manage assigned case load in manner that meets goals and client expectations
  • Handle escalated and time sensitive matters as needed
  • Other duties and special projects as needed

Job requirements

  • Juris Doctorate from an accredited law school
  • Bankruptcy or mortgage servicing experience is preferred but not required
  • Admission to practice law in the state; multi jurisdiction admission preferred but not required
  • *Chapter 11 and Adversary Proceeding Experience a plus but not required

General competencies

  • Must have excellent communication skills both verbal and written
  • Excellent research skills including use of legal and non-legal sources
  • Proficient in software tools including but not limited to Word, Excel, Outlook, etc.
  • Ability to manage and prioritize large caseload
  • Identifies and resolves problems in a timely manner
  • Conscientious with respect to work completion, deadlines, time management, and attendance
  • Analytical and detail oriented while working at a fast pace
  • Excellent problem solving and organizational skills
  • Overall good work ethic and willingness to adapt to change

Sample job description #3

Job functions

  • Represent debtors and creditors in all areas of corporate restructurings, workouts, distressed asset and debt acquisitions, and insolvency and bankruptcy proceedings
  • Assist buyers at bankruptcy auctions, parties facing assumption or rejection of leases in bankruptcy, trade creditors asserting reclamation claims or defending preference actions, and other creditors who are simply trying to understand the ramifications of a bankruptcy filing
  • Advocated for creditors in bankruptcy proceedings
  • Provide advice to our clients on existing laws and regulations and the shifting alliances among various creditor constituencies, from first-day cash collateral disputes to plan negotiations.
  • Collaborate with the Senior Partners
  • Delegate to paralegals and other support staff
  • Excellent legal research, written, and verbal communication skills

Qualification and education requirements

  • JD from an ABA accredited law school
  • Admission and in good standing with state bar
  • 2+ years of experience in Bankruptcy
  • Prior experience in finance transactions is a plus
  • Bankruptcy Court clerkship is a plus
  • Excellent verbal and writing skills
  • Excellent academic credentials
  • Experience at an AmLaw 100 or 200 firm is preferred

Average salary and compensation

The average salary for a bankruptcy attorney is $100,000 in the United States. Position salary will vary based on experience, education, company size, industry, and market.

LocationSalary LowSalary High
Phoenix, Arizona$99,450$134,550
Los Angeles, California$112,200$151,800
Denver, Colorado$93,500$126,500
Washington, DC$113,900$154,100
Miami, Florida$93,100$125,950
Orlando, Florida$85,850$116,150
Tampa, Florida$86,700$117,300
Atlanta, Georgia$90,950$123,050
Chicago, Illinois$104,550$141,450
Boston, Massachusetts$113,050$152,950
Minneapolis-St. Paul, Minnesota$90,100$121,900
New York City, New York$119,000$161,000
Philadelphia, Pennsylvania$96,900$131,100
Dallas, Texas$94,350$127,650
Houston, Texas$93,500$126,500
Seattle, Washington$108,800$147,200
National Average$85,000$115,000

Sample interview questions

  • What is bankruptcy?
  • What would a client receive if filing for Chapter 7 bankruptcy?
  • Have you ever filed for bankruptcy yourself? If so, what was your situation and how did it work out for you?
  • How does a lawyer represent their client in court hearings and negotiations with creditors?
  • Can you give me an overview of the creditor’s rights process?
  • What are some of the most common mistakes people make when filing for bankruptcy?
  • What do you think is the biggest misconception about bankruptcy?
  • What advice would you give to someone who is considering bankruptcy?
  • If a client has a debt that is not dischargeable in bankruptcy, what is an alternative option?
  • What do you enjoy about being a bankruptcy attorney?
  • What has been your most rewarding experience in a professional setting? Why?
  • How do you stay up-to-date on changes in the bankruptcy law?
  • Do you have any upcoming speaking engagements or writing projects that we can be aware of?
  • Are you comfortable working with clients who may have a criminal background?

Bankruptcy Attorney Jobs in Ashburn

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