Chapter 7 bankruptcy filings are on the rise due to a slow economy, company downsizing and homeowners losing their homes to foreclosure.
Also the increased credit card debt families are facing will require them to seek help with filing out legal papers.
Trained bankruptcy paralegals are needed to offer document preparation services for a cost much less than a litigation attorney would charge.
High cost of attorneys make paralegals an alternative option
Chapter 13 and Chapter 7 bankruptcy lawyers are usually partners in law firms after attending law school and passing the bar exam. For this reason lawyers are billed by the hour which can get expensive.
Attorneys are considered advocates and advisors to the clients they are representing, so paralegals help to assist them with the heavy caseload.
Some bankruptcy lawyers are self-employed and have their own clients. Most paralegals do the research an preparation of documents to present to the clients.
Paralegal services training
Many of the paralegal training programs last from 1 to 2 years which can be taken at a community college or at a online university.
Your work enviroment will consist of working in a law library, courtroom or office setting.
Job growth is expected to continue through the next 10 years because of the legal services needed in lthe following areas:
- healthcare
- intellectual property
- bankruptcy corporate and security litigation
- antitrust law
- environmental law
Students looking to get involved in the law field need to consider becoming a paralegal, most of the job duties are the same such as processing documents, mediation and dispute.
You just will not be able to set legal fees, practice law in court or give legal counsel.
The good news is that there is a demand for paralegals who have experience in bankruptcies, foreclosures, or handling divorces because individuals do not have much money to spend on these issues.
Where to look for employment
Corporations and government institutions are using more legal assistants to work full-time hours and overtime.
The employment opportunities are great and you will organize and prepare information and then write written reports. Legal assistants can draft contracts, mortgages and separation agreements, tax returns and trust funds.
It is recommended that you gain practical experience from an internship. So look for academic programs that offer you the opportunity to get hands on experience.
Economy gives paralegals a way to help others
Homeowners are left with having to sell their home in a shortsale, or they have to take less than the home is worth. Legal assistants can help them sort out te paperwork.
Taxes is another area that many entrepreneurs and smaller businesses need help with you will be able to assist them with tax returns saving them time and money.
Source: The National Association of Legal Assistants (NALA), Association for Bankruptcy Judicial Assistants (ABJA)
