If you are thinking of becoming a bankruptcy paralegal you may be drawn to the comparatively ordinary office hours and the salary that this qualification draws. Perhaps you were also good at maths in class and love the concept of helping folk get out of debt while keeping their houses.

So what do you need to understand to become a bankruptcy paralegal?

Most legal assistants who specialize in this field will learn on the job. Prior to the 2005 Bankruptcy Abuse act, making a bankruptcy filing was straight forward. Actually plenty of folk did not use an attorney and got on fine.

But the situation has changed. Although the Act has been around for over five years, there’s still a substantial amount of misunderstanding over how it should be applied. There were Judges who denied a claim for bankruptcy as the person filing was a teacher who refused to take a second job while on vacation from school. The judge appeared to suspect that this meant this debtor was not doing his best to pay back his debts. Another judge may not have reached the same conclusion.

So a bankruptcy paralegal will need to start to know the local judges and how they are likely to interpret the Act in certain circumstances. The legal assistant will also need to know the variances between a Chapter 7 filing and a Chapter 13 filing if they specialize in personal cases or a chapter 11 and other sections of the bankruptcy code if they deal with firms.

They may also must hold the skills all good paralegals will have i.e. An ability to work under pressure, to meet tight cut off dates, to carry out tenacious research, an eye on details as gaffes on court documents can cause the case being lost.

This is a satisfying career particularly for those that have worked in finance or have a real wish to make a splash on peoples lives. You will be coping with individuals who are under grim monetary strain that might be impacting their personal relationships and their well-being. Your knowledge can help these folks to improve their situation. It may also help them not to make their situation worse by making a bankruptcy application when it’s the wrong information for them.

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