3

Bankruptcy Attorney

at Kain & Scott

kberset

- Eden Prairie, Minnesota

- 8/10/20
Job/Career Demand
4.0
Positive Impact
5.0
Satisfaction
5.0
Advancement/Growth
4.0
Creativity
4.0
Work-Life Balance
5.0
Compensation & Benefits
5.0
Work Environment
4.0
Years of experience
4.0
Recommended Education
Doctoral or Professional Degree

Describe the path you took to become a bankruptcy attorney

In undergrad, I interned for a bankruptcy trustee and bankruptcy attorney. I loved my experience with them, so I went to law school with the intent of being a bankruptcy attorney. I took classes that would help me in a bankruptcy practice. After law school, I went back to assist those same attorneys. I applied for an open position as an associate bankruptcy attorney at another firm where I am now partner.

What's a day in the life of a bankruptcy attorney?

Summary: Bankruptcy Attorney Specializing in Chapter 7 and Chapter 13 Consumer Bankruptcies

My days are spent in consultations and follow up appointments with clients. A lot of face-to-face client interaction.

What's the best part of being a bankruptcy attorney?

The satisfaction of knowing you are helping people get their lives back.

What are some perks of your job?

Unlimited PTO

What's the downside of being a bankruptcy attorney? Words of caution?

Must be comfortable meeting new people on a daily basis. Must be detailed oriented. Most lawyers avoid math, but bankruptcy attorneys must use a lot of it.

What's the earning potential? Entry-level? Mid-level? Senior-level?

I am partner at my firm, so my bonuses are worth more than my base salary. An associate bankruptcy attorney has the potential to earn 6 figures. If made partner, the potential is in the hundreds of thousands per year.

Advice on how to get started as a bankruptcy attorney

If you think you might be interested in bankruptcy, start by volunteering with the Volunteer Lawyers Network. There, you can pick up some pro-bono Chapter 7 bankruptcy cases and help low-income individuals eliminate their debt.

What skills are needed to be a bankruptcy attorney?

Law degree.

What's work/industry culture like?

Our firm has outstanding company culture, but that may not be a universal experience at other firms. The industry is a small niche which is fun because all of the debtor attorneys, creditor attorneys, judges, and trustees know each other. It is fun to be in an industry where people recognize each other.

What's the future outlook for a bankruptcy attorney?

The odd thing about being a bankruptcy attorney is that when the market is bad, we do great. COVID-19 has been disastrous for the American economy which will eventually result in an immense increase in bankruptcy cases. The future looks good for bankruptcy attorneys.

Anything else?

Great work life balance. I work 8am-5pm Monday through Friday and not much more beyond that.

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