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The differences between bankruptcy specialists and attorneys can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a bankruptcy specialist and an attorney. Additionally, an attorney has an average salary of $109,476, which is higher than the $35,498 average annual salary of a bankruptcy specialist.
The top three skills for a bankruptcy specialist include relief, pacer and foreclosure. The most important skills for an attorney are litigation, legal research, and law firm.
| Bankruptcy Specialist | Attorney | |
| Yearly salary | $35,498 | $109,476 |
| Hourly rate | $17.07 | $52.63 |
| Growth rate | 10% | 10% |
| Number of jobs | 4,381 | 10,991 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 50% | Doctoral Degree, 48% |
| Average age | 46 | 46 |
| Years of experience | 4 | 4 |
The bankruptcy specialist is responsible for filing and documentation loan bankruptcy materials with the appropriate attorneys. They ensure full compliance with loan bankruptcy regulations and monitor accounts throughout the loan bankruptcy process to contact the appropriate party when necessary. A bankruptcy specialist might be an administrator or lawyer in a bankruptcy office and supports bankruptcy law. They are likely to evaluate state declaration and affidavits for legal progression, interact with customers and outside counsel about bankruptcy proceedings through written and verbal communication, and work with local counsel and upper management in effectively reviewing client's files.
Generally, an attorney's responsibility is to advise the client with an ongoing lawsuit on the legal procedures and provide strategies to resolve the case as early as possible. An attorney compiles necessary documents or any records for appeal and client's defense. Attorneys must acquire strong problem-solving and critical-thinking skills to mediate disputes and settle pending litigation for the client's best interest. In some cases, an attorney's procedure depends on any evidence and research presented during the trial period. An attorney is expected to present clients on legal proceedings, seeking justice and justifying the law.
Bankruptcy specialists and attorneys have different pay scales, as shown below.
| Bankruptcy Specialist | Attorney | |
| Average salary | $35,498 | $109,476 |
| Salary range | Between $27,000 And $46,000 | Between $69,000 And $172,000 |
| Highest paying City | Norfolk, VA | White Plains, NY |
| Highest paying state | California | New York |
| Best paying company | The PNC Financial Services Group | Thompson Coburn |
| Best paying industry | Finance | - |
There are a few differences between a bankruptcy specialist and an attorney in terms of educational background:
| Bankruptcy Specialist | Attorney | |
| Most common degree | Bachelor's Degree, 50% | Doctoral Degree, 48% |
| Most common major | Business | Law |
| Most common college | Stanford University | Stanford University |
Here are the differences between bankruptcy specialists' and attorneys' demographics:
| Bankruptcy Specialist | Attorney | |
| Average age | 46 | 46 |
| Gender ratio | Male, 31.0% Female, 69.0% | Male, 49.9% Female, 50.1% |
| Race ratio | Black or African American, 5.7% Unknown, 4.4% Hispanic or Latino, 7.9% Asian, 6.5% White, 75.2% American Indian and Alaska Native, 0.3% | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 7.8% Asian, 6.4% White, 75.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 10% | 10% |