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. According to the U.S. Bureau of Labor Statistics (BLS), paralegals working in the finance and insurance sector earn an average annual salary of $81,000 as of 2024.
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
2024 US Bureau of Labor Statistics salary data and job market trends for paralegals reflect state and national data, not school-specific information. Conditions in your area may vary. Data accessed May 2025.