Bankruptcy is one of the worst things that can happen to an individual or business. Fortunately, there are bankruptcy specialists that can help minimize the negative effects of this disastrous financial situation. In some cases, a bankruptcy specialist can even help people avoid filing for bankruptcy in the first place. But if it is necessary, they guide bankrupted individuals and help them get back on their feet.

The duties of bankruptcy specialist revolve around communicating with their clients, analyzing financial documents, and ensuring that clients follow bankruptcy regulations. They also spend a lot of time reviewing legal documents and educating clients about bankruptcy procedures in court.

A bankruptcy specialist may be a lawyer, a banking professional, or a financial advisor. In any case, a college degree is most likely required for this role. Furthermore, a bankruptcy specialist must be well-versed in the bankruptcy filing, procedures, as well as how to avoid bankruptcy in the first place.

This job may be done alongside the main profession. A bankruptcy specialist can make an additional income of around $33,000 a year by offering bankruptcy services, on average.

What Does a Bankruptcy Specialist Do

There are certain skills that many bankruptcy specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed interpersonal skills, problem-solving skills and research skills.

Learn more about what a Bankruptcy Specialist does

How To Become a Bankruptcy Specialist

If you're interested in becoming a bankruptcy specialist, one of the first things to consider is how much education you need. We've determined that 50.0% of bankruptcy specialists have a bachelor's degree. In terms of higher education levels, we found that 4.8% of bankruptcy specialists have master's degrees. Even though most bankruptcy specialists have a college degree, it's possible to become one with only a high school degree or GED.

Learn More About How To Become a Bankruptcy Specialist

Bankruptcy Specialist Career Paths

Average Salary for a Bankruptcy Specialist

Bankruptcy Specialists in America make an average salary of $35,498 per year or $17 per hour. The top 10 percent makes over $46,000 per year, while the bottom 10 percent under $27,000 per year.
Average Bankruptcy Specialist Salary
$35,498 Yearly
$17.07 hourly
$27,000
10 %
$35,000
Median
$46,000
90 %

What Am I Worth?

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Bankruptcy Specialist Education

Bankruptcy Specialist Majors

31.8 %

Bankruptcy Specialist Degrees

Bachelors

50.0 %

Associate

23.7 %

High School Diploma

12.8 %

Top Colleges for Bankruptcy Specialists

1. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083

2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

3. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

4. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

7. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

8. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451

9. Harvard University

Cambridge, MA • Private

In-State Tuition
$50,420
Enrollment
7,582

10. Duke University

Durham, NC • Private

In-State Tuition
$55,695
Enrollment
6,596

Top Skills For a Bankruptcy Specialist

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 23.7% of bankruptcy specialists listed bankruptcy on their resume, but soft skills such as interpersonal skills and problem-solving skills are important as well.

Choose From 10+ Customizable Bankruptcy Specialist Resume templates

Zippia allows you to choose from different easy-to-use Bankruptcy Specialist templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Bankruptcy Specialist resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Bankruptcy Specialist Demographics

Bankruptcy Specialist Gender Distribution

Female
Female
69%
Male
Male
31%

After extensive research and analysis, Zippia's data science team found that:

  • Among bankruptcy specialists, 69.0% of them are women, while 31.0% are men.

  • The most common race/ethnicity among bankruptcy specialists is White, which makes up 79.0% of all bankruptcy specialists.

  • The most common foreign language among bankruptcy specialists is Spanish at 66.1%.

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Best States For a Bankruptcy Specialist

Some places are better than others when it comes to starting a career as a bankruptcy specialist. The best states for people in this position are California, Virginia, New York, and North Dakota. Bankruptcy specialists make the most in California with an average salary of $40,475. Whereas in Virginia and New York, they would average $37,503 and $37,069, respectively. While bankruptcy specialists would only make an average of $36,906 in North Dakota, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. North Dakota

Total Bankruptcy Specialist Jobs:
6
Highest 10% Earn:
$48,000
Location Quotient:
1.61

2. Vermont

Total Bankruptcy Specialist Jobs:
9
Highest 10% Earn:
$46,000
Location Quotient:
2.93

3. District of Columbia

Total Bankruptcy Specialist Jobs:
8
Highest 10% Earn:
$54,000
Location Quotient:
1.19
Full List Of Best States For Bankruptcy Specialists

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Top Bankruptcy Specialist Employers

Most Common Employers For Bankruptcy Specialist

Rank  Company  Average Salary  Hourly Rate  Job Openings  
1Citi$92,804$44.62149
2Ford Motor$84,836$40.7919
3IBM$82,106$39.4712
4JPMorgan Chase & Co.$81,956$39.40135
5GE Capital$70,522$33.9011
6Bank of America$44,894$21.58350
7U.S. Bank$43,851$21.0826
8Wells Fargo$43,782$21.05386
9Regions Bank$42,919$20.6318
10SunTrust$42,863$20.6158

Bankruptcy Specialist Videos