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What does a Bankruptcy Specialist do?

Learn all about Bankruptcy Specialist duties, skills and much more. Get expert advice on how to become a Bankruptcy Specialist.

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Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

A bankruptcy specialist is a professional who helps people file for bankruptcy. They work with people to help them understand the process and what their options are. They also help people fill out the paperwork and file it with the court.

Bankruptcy Specialist job duties include:

  • Research and analyze bankruptcy cases
  • Prepare and file bankruptcy petitions
  • Manage client finances during bankruptcy proceedings
  • Advise clients on debt relief options
  • Negotiate with creditors on behalf of clients
  • Develop repayment plans for debtors
  • Represent clients in court hearings
  • Oversee the liquidation of assets
  • Monitor post-bankruptcy compliance

Bankruptcy Specialist Job Requirements

A bankruptcy specialist is a professional who helps individuals and businesses file for bankruptcy. In order to become a bankruptcy specialist, one must have a degree in law or a related field, and must be certified by the American Bankruptcy Institute. Additionally, experience working in the financial sector is helpful.

Bankruptcy Specialist Skills

  • Bankruptcy
  • Court
  • Creditors
  • Debt
  • Debts
  • Law
  • Money
  • Property
  • Records
  • Taxes

Related: Top Bankruptcy Specialist Skills: Definition and Examples

How to become a Bankruptcy Specialist

There are many reasons why someone might want to become a bankruptcy specialist. Maybe they have a personal experience with bankruptcy, or maybe they see it as a way to help others through a difficult financial time. Whatever the reason, becoming a bankruptcy specialist can be a rewarding career.

There are a few steps someone would need to take in order to become a bankruptcy specialist. First, they would need to get a degree in accounting or another financial field. Then, they would need to pass the certified public accountant exam. After that, they would need to find a job working in bankruptcy law. Finally, they would need to get certified as a bankruptcy specialist by the American Bankruptcy Institute.

While getting each of these steps done can seem daunting, it is important to remember that each one will help you become better equipped to handle bankruptcies. A degree in accounting will give you the ability to understand financial statements and tax returns, which are essential for bankruptcy cases. The CPA exam will show that you have the skills necessary to work as an accountant. And working in bankruptcy law will give you first-hand experience dealing with bankruptcies.

Once you have all of these steps completed, you will be able to call yourself a certified bankruptcy specialist. This designation will open up many doors for you, both in terms of job opportunities and earnings potential. Becoming a bankruptcy specialist can be a long and difficult process, but it is ultimately very rewarding.

Related: Bankruptcy Specialist Resume Example

Related: Bankruptcy Specialist Interview Questions (With Example Answers)