Would I speak with my accountant about Bankruptcy?

MegaphoneThe answer appears obvious doesn’t it: if anyone knows your financial circumstance well in Melbourne, It’s going to be your accountant. Nonetheless, the short answer is a definite No! It’s not that your financial advisor may not have your best interests in mind when it comes to Bankruptcy, it’s that his knowledge depends on serving to help you save you money at tax time, reducing your tax liability and lodging your BAS.

A lot of accounting degrees will dedicate very little to no time at all on insolvency, it’s normally performed as a post graduate specialized program for those who plan to work in the industry. Unless your accounting professional is an insolvency specialist, he would not know a lot about the impacts of Bankruptcy. I can assure you insolvency specialists don’t know much about tax returns or BAS. If you do happen to identify an insolvency accounting firm in Melbourne, they have the tendency to be big companies with extremely nice offices who bill accordingly.

Would I talk with my Solicitor about Bankruptcy?

No! You can speak to your solicitor in Melbourne but more than likely it won’t do you much good. Solicitors are definitely good at carrying out things lawyers do, like supporting you to do your Will and purchasing your house and attempting to try to keep you out of court if you’re lucky. When it comes to Bankruptcy, the specialists in Melbourne typically have either a legal or accounting certifications, and the primary reason for that is simply that you can’t start in the post graduate study to become a qualified insolvency specialist unless if you have a law or accounting degree.

Just as there are a handful of insolvency accountancy agencies, there are few insolvency legal practices in Australia, and yes if you find one you will certainly pay an adequate fee for their knowledge.

Should I speak with a financial counsellor about Bankruptcy?

Yes! There are a number of financial counselling solutions to help you through this, they have no prejudices and they are a great choice for permitting you to evaluate your case when it comes to Bankruptcy. If you turn out stressing frequently, not sleeping, not eating or over-eating and contemplating finance strains constantly, then obtain some assistance.

There are also charities around Melbourne like Lifeline that offer an outstanding service. They will be a sounding board if you simply need a person to review with you what your alternatives are. Don’t let your financial trouble ruin your life – ultimately it’s just money.

If you truly want to find out more about what to do, where to turn and what troubles to ask about Bankruptcy, then feel free to get in touch with Bankruptcy Melbourne on 1300 795 575, or visit our website: www.bankruptcymelbourne.com.au.