Should I talk with my accountant about Bankruptcy?
The answer seems obvious doesn't it: if
anyone knows your financial situation well in Melbourne, It's going to be your
accountant. However, the short answer is a resounding No! It's not that your
accountant may not have your best interests at heart when it comes to Bankruptcy,
it's that his expertise lie in helping you save you money at tax time, reducing
your tax liability and lodging your BAS.
Most accounting degrees will put in very
little to no time on insolvency, it's generally carried out as a post graduate
specialty course for those who intend to work in the field. Unless your
accountant is an insolvency expert, he would not know that a lot about the
implications of Bankruptcy, I can assure you insolvency specialists know much
about tax returns or BAS in. If you do manage to find an insolvency accounting
firm in Melbourne, they have the tendency to be large firms with very nice
office spaces who charge accordingly.
Should I consult with my Solicitor about Bankruptcy?
No! You can speak with your solicitor in
Melbourne but more than likely it won't do you much good. Solicitors are
definitely good at doing things lawyers do, like assisting you do your Will and
buying your house and trying to keep you out of court if you're lucky. When it
concerns Bankruptcy, the specialists in Melbourne generally have either a legal
or accounting experience, and the main reason for that is simply that you can't
start in the post graduate study to become a qualified insolvency practitioner
until you have a law or accounting degree.
Just like there are a small number of
insolvency accounting firms, there are very few insolvency legal practices in
Australia, and yes if you find one you will pay a hefty price for their
expertise.
Should I talk to a financial counsellor
about Bankruptcy?
Yes! There are a lot of financial
counselling services to aid you with this, they have no hidden agendas and
they're a great option for helping you analyze your circumstance when it comes
to Bankruptcy. If you find yourself stressing constantly, not sleeping, not
eating or over-eating and thinking of money pressures regularly, then get some
help.
There are also charities around Melbourne
like Lifeline that offer an excellent service. They will be a sounding board if
you just need somebody to review with you what your choices are. Don't let your
financial trouble destroy your life - in the end it's just money.
If you want to learn more about what to do,
where to turn and what points to ask about Bankruptcy, then feel free to get in
touch with Fresh Start Solutions Melbourne on 1300 818 575, or visit our
website: www.freshstartsolutions.com.au/bankruptcy-Melbourne