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 is a Bankruptcy Specialist?
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.
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.
Bankruptcy Specialist Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of analyst you might progress to a role such as consultant eventually. Later on in your career, you could end up with the title service manager.
Average Salary for a Bankruptcy Specialist
What Am I Worth?
Top Colleges for Bankruptcy Specialists
1. Stanford University
Stanford, CA • Private
2. University of Pennsylvania
Philadelphia, PA • Private
3. Northwestern University
Evanston, IL • Private
4. University of Southern California
Los Angeles, CA • Private
5. Villanova University
Villanova, PA • Private
6. Boston University
Boston, MA • Private
7. New York University
New York, NY • Private
8. University of Minnesota - Twin Cities
Minneapolis, MN • Private
9. Harvard University
Cambridge, MA • Private
10. Duke University
Durham, NC • Private
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.
Bankruptcy Specialist Demographics
Bankruptcy Specialist Gender Distribution
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%.
Online Courses For Bankruptcy Specialist That You May Like
This course is the second course in a two-part series on corporate and commercial law. In this part, we focus on three main topics: business organizations, business financing, and governmental regulation. In the first module, we discuss the characteristics of a number of the most common forms of business entities, such as corporations and LLCs. Module two is devoted to debtor-creditor relationships, including bank financing, debt financing, secured transactions, and bankruptcy. We wrap up the co...
Do you want to start or grow your own business, go international, or avoid bankruptcy? In this business and management course, you will learn the key steps to take to design or innovate your own business model. You will learn about the trade-offs to be made, and the design issues that are critical for a viable and sustainable business model. This course will help you answer questions like, "How do I create a simple business model in a structured way?" and "How do I engage my users and how do I...
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
$36,906
Avg. Salary
2. Vermont
$33,956
Avg. Salary
3. District of Columbia
$41,766
Avg. Salary
How Do Bankruptcy Specialist Rate Their Jobs?
Top Bankruptcy Specialist Employers
Most Common Employers For Bankruptcy Specialist
| Rank | Company | Average Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| 1 | Citi | $92,804 | $44.62 | 149 |
| 2 | Ford Motor | $84,836 | $40.79 | 19 |
| 3 | IBM | $82,106 | $39.47 | 12 |
| 4 | JPMorgan Chase & Co. | $81,956 | $39.40 | 135 |
| 5 | GE Capital | $70,522 | $33.90 | 11 |
| 6 | Bank of America | $44,894 | $21.58 | 350 |
| 7 | U.S. Bank | $43,851 | $21.08 | 26 |
| 8 | Wells Fargo | $43,782 | $21.05 | 386 |
| 9 | Regions Bank | $42,919 | $20.63 | 18 |
| 10 | SunTrust | $42,863 | $20.61 | 58 |
Bankruptcy Specialist Videos
