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Last Updated On 09 Sep, 2020
A Bankruptcy Lawyer is a legal professional whose primary focus is to assist his/ her clients through court proceedings in order to reduce or eliminate debt or to proceed forward with bankruptcy. Bankruptcy Lawyers can work for both individuals and corporations. They have the liberty of representing individuals or corporate debtors, individual or corporate creditors, bankruptcy trustees, and creditors' committees. Their job entails both inside and outside courtroom procedures. Outside the courtroom, Bankruptcy Lawyers advise their clients in the complexities of bankruptcy laws and counsel them in reducing their debt load by liquidating assets and paying creditors. Apart from that, they may also work on the side of creditors, attempting to extract as much money owed as possible from their debtors. In the courtroom, Bankruptcy Lawyers may fight for their client or present a debt-reorganisation plan for the court to approve.
In order to become a Bankruptcy Lawyer, candidates are required to fulfil certain conditions. The table given below provides a list of the eligibility criteria for becoming a bankruptcy lawyer.
Educational Qualification |
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Refer to the table given below to know about the best courses to become a bankruptcy lawyer, their average fee, and the top law colleges that offer them.
Course | Average Fee per Year | Top Law Colleges for Bankruptcy Law |
| Rs. 2 - 2.5 lacs | Lovely Professional University | |
| Rs. 1.5 - 2.5 lacs | ||
| B.Com LL.B | Rs. 1.7 - 2.5 lacs | |
| Rs. 2 - 2.5 lacs | ||
| Master of Law (LL.M) | Rs. 2 - 3 lacs |
The types of job roles available for Bankruptcy Lawyers have been listed below.
Bankruptcy Lawyers are hired across several sectors and industries for employment. Some of the sectors in which bankruptcy lawyers are recruited the most at different levels have been provided here.
The salary of a Bankruptcy Lawyer depends upon several factors. Some of them include the prior work experience of the candidate, the company for which he/ she is working, his/ her job role, etc. Additionally, the salary also varies depending upon the city from which the lawyer is working.
Job Profile | Average Salary (per annum) | Entry-Level Salary (per annum) | Mid-Level Salary (per annum) | Senior-Level Salary (per annum) |
Bankruptcy Lawyer | Rs. 6,30,000 | Rs. 2,00,000 | Rs. 8,20,000 | Rs. 12,50,000 |
Listed below are some of the best-recommended books for Bankruptcy Lawyers.
Take our test and find out if it suits your strengths.
No, Bankruptcy Lawyers are hired in many sectors for different job roles. They can find many job roles in both government and private sectors. They can also work for an individual client or for a company.
In order to become a Bankruptcy Lawyer, you will have to complete a bachelor or masters degree in law. The average course fee of a UG degree in law is around Rs. 1.5 lakhs per annum and that of a masters degree is Rs. 2 lakhs per annum.
The senior level officials of Bankruptcy Law are paid around Rs. 12 - 15 lakhs per annum. The salary depends upon the company and city in which the lawyer is working.
While hiring Bankruptcy Lawyers, preference is given to candidates who have has some work experience in the same or a related field. Therefore, doing some internships in specifics of bankruptcy law while completing your degree can be quite helpful in fetching you a good job at a well-established firm or company.
The National Law Universities (NLUs), Symbiosis Law School, ILS Law College, Jindal Global Law School, etc. are some of the most sought after colleges for bankruptcy law in India. Apart from these, many private colleges like Amity University, Lovely Professional University, etc. are also quite popular among students.
The scope of job opportunities for Bankruptcy Lawyers in India is good. They can find many career prospects in both government and private sectors.
Yes, you can become a Bankruptcy Lawyer after obtaining a degree of BA LLB. You should have done some internships in the relevant field so as to get good job opportunities.
The starting salary for Bankruptcy Lawyers in India at a mid-level company is around Rs. 2,50,000 per annum.
Candidates who have completed a UG or PG degree in law are eligible to become Bankruptcy Lawyers.
A Bankruptcy Lawyer is responsible for managing the finances of his/ her client and leading them through court proceedings in regard to bankruptcy issues. They deal with matters related to finance, creditors, debitors, bankruptcy trustees, etc.