Should I speak to my accountant about Bankruptcy?
The answer seems obvious doesn't it: if
anybody knows your financial circumstance well in Sydney, It's going to be your
accountant. However, the short answer is a definite No! It's not that your
accountant doesn't have your best interests at heart when it comes to Bankruptcy,
it's that his proficiency lie in helping you save you money at tax time,
reducing your tax liability and lodging your BAS.
Most accounting degrees will put in hardly
any to no time on bankruptcy, it's generally performed as a post graduate
specialty program for those who want to work in the field. Unless your
accountant is an insolvency specialist, he will not know that a lot about the
effects of Bankruptcy, I can guarantee you insolvency specialists know much
about tax returns or BAS in. If you do happen to find an insolvency accounting
firm in Sydney, they have the tendency to be large firms with very nice offices
who charge accordingly.
Should I talk with my Solicitor about Bankruptcy?
No! You can speak to your solicitor in
Sydney but more than likely it won't do you much good. Solicitors are certainly
good at doing things lawyers do, like assisting you do your Will and buying
your house and keeping you out of court if you're lucky. When it relates to Bankruptcy,
the specialists in Sydney normally have either a legal or accounting
experience, and the main reason for that is simply that you can't enrol in the
post graduate study to become a qualified insolvency practitioner until you
have a law or accounting degree.
Just as there are a handful of insolvency
accounting firms, there are very few insolvency legal practices in Australia,
and yes if you locate one you will pay a considerable price for their
expertise.
Should I speak to a financial counsellor
about Bankruptcy?
Yes! There are plenty of financial
counselling services to aid you through this, they have no hidden agendas and
they're a marvellous option for really helping you think through your situation
when it comes to Bankruptcy. If you are freaking out constantly, not sleeping,
not eating or over-eating and thinking of money pressures regularly, then get
some help.
There are also charitable organizations
around Sydney like Lifeline that offer a fantastic service. They will be a
sounding board if you just need someone to talk about with you what your
possibilities are. Don't let your financial problem destroy your life - in the
end it's just money.
If you would like to learn more about what
to do, where to turn and what questions to ask about Bankruptcy, then feel free
to contact Fresh Start Solutions Sydney on 1300 818 575, or visit our website:
www.freshstartsolutions.com.au/bankruptcy-Sydney
