Bankruptcy cases are basically complicated and they often involve a careful and reliable document preparation, following the dates as they are given and a precise legal training. For bankruptcy attorneys and law firms, the in-house management of these details can be a double expense: timely and costly. Paralegal services outsourcing is a smart way to manage your workflow faster, to cut down on the overhead, and to concentrate on what truly gives good results—winning cases.
The Critical Role of Virtual Paralegals in Bankruptcy Cases
Paralegals are the true backbone of any legal matter, especially in bankruptcy matters. The paralegal performs the following tasks:
- Document Preparation: Preparing Chapter 7, Chapter 13 and Emergency petitions, schedules, and other filings accurately and timely.
- Data Collection & Reviewing: Collecting all financial information, verifying records, and confirming legal standards are met.
- Administrative Support: Filing documents, scheduling the hearing, and communicating with debtors and creditors.
By performing these detailed functions, a paralegal enables attorneys to focus on their legal strategy and client representation.
Challenges in Managing Bankruptcy Cases In-House
Managing bankruptcy cases in-house can create a number of problems:
- Time Consuming: Document drafting and reviewing, financial analysis and compliance checking takes a lot of effort from the in-house team.
- High Cost: Employing a full-time paralegal staff to manage the everyday workload is expensive because of salaries, employee benefits and office space.
- Insufficient Resources: As the caseloads vary, the in-house staff often has periods of being under-staffed or over-staffed, which can disrupt efficiency.
- Human Error: Oversights in paperwork can slow down the case process, or significantly compromise findings.
These issues can expose the need for a solution that would be a more efficient and cost-effective methodology.
The Benefits of Outsourcing Bankruptcy Paralegal Services to GSB LPO Services
There are many compelling reasons to outsource paralegal work to a dedicated LPO provider, such as GSB LPO Services:
- Cost Savings: Outsourcing could reduce operational expenses by up to 75%, letting you pay for services when you require them and eliminating long-term staffing expenses while mitigating risks.
- Improved Process: A specialized paralegal’s work with its focused expertise is performed in a faster timeframe than a paralegal working without the same focus and speed. By outsourcing, you’ll be sure to get your documents with or without a fast turnaround in terms of drafting needs, or drafting emergency pleadings, all at the best speed possible in order to not delay your case.
- Access to a Professional Understanding of the Law: Teams with over a decade of experience give you access to paralegals who have experience working for attorneys in the understanding of the practice of bankruptcy law and all its nuances from Chapter 7 liquidation bankruptcy petitions to Chapter 13 repayment bankruptcy cases.
- Flexibility & Scalability: Staff your resources based on your caseload. Outsourcing allows you and your firm to more strategically manage the directed goals of the enablement of efficiency and effectiveness.
- Increased Improved Data Security & Compliance: Call a LPO provider that has policies and procedures in place to meet compliance and security protocols as they relate to confidentiality, privileged information, and confidentiality of everything in the process so your clients remain in a secured process of handling sensitive information.
All of this means that you can leave the operational management to the professionals while you maintain your focus on managing your case with a strategic lens and your advocacy on behalf of your clients.
How GSB LPO Services Enhances Your Bankruptcy Practice:
At GSB LPO Services, we have customized our services specifically for your bankruptcy cases. This is how we work with you:
- Tailored Services for Chapter 7 and Chapter 13: Our experienced and highly-trained staff draft bankruptcy petitions, prepare schedules, and file court documents for you.
- Overseen Bookkeeping: Each project is overseen by a qualified supervisor for quality control, and to ensure deadlines are monitored and met.
- Utilizing Advanced Technology: We utilize the latest legal technology to generate documents, track billable hours, and provide a secure document repository.
- Cost-Effective: Our outsourcing options will save you operational costs so you can spend money on the core legal conversations.
- Support 24/7: Our virtual paralegal services suit your schedule, allowing us to support your cases when you need it.
With GSB LPO Services, law firms can become routinely organized and structured to handle bankruptcy cases, improve cases through less administrative burdens, and ultimately improve client satisfaction.
Best Practices for Outsourcing Bankruptcy Paralegal Services
To achieve the most benefit from outsourcing, consider these best practices:
- Organize Your Documentation Ahead of Time: Be sure that your financial documentation, legal documents, and case files are organized prior to sending your materials over to the outsourcing vendor.
- Establish Communication: Set up regular check-ins and communication updates, and put agreed-upon service level agreements in place to be able to keep track of your outsourcing vendor’s performance.
- Establish What You Are Trying to Accomplish: Establish whether you expect faster turnaround times, cost savings, or case accuracy, and utilize in your plans how to utilize the outsourcing option.
- Monitor Performance: Regularly review and monitor the quality of the outsourced services and efficiency, and track that they are meeting the firm’s standards and that your firm’s needs are still being met.
Final Thoughts
Outsourcing paralegal services is a tactical system. It can greatly enhance the efficiency of your bankruptcy case management by reducing costs, utilizing specialized skills, and providing attorneys with additional time to strategize. GSB LPO Services ensures attorneys can concentrate on their core legal practice areas and maximize results for their clients.
Are you prepared to transform the management of your bankruptcy cases? We urge you to try our Free Pilot Project and see how outsourcing with GSB LPO Services can elevate your bankruptcy practice management.
Enhance your bankruptcy practice with efficient, excellent and expert solutions-partner with GSB LPO Services and focus on winning cases.