Bankruptcy in Canberra - Who do I speak to?

Should I talk to my accountant about Bankruptcy?

The answer seems obvious doesn't it: if anybody knows your financial circumstance well in Canberra, It's going to be your accountant. However, the short answer is a resounding No! It's not that your accountant doesn't have your best interests in mind when it comes to Bankruptcy, it's that his skills lie in helping you save you money at tax time, lowering your tax liability and lodging your BAS.

Most accounting degrees will devote hardly any to no time on bankruptcy, it's generally carried out as a post graduate speciality program 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 effects 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 Canberra, they often tend to be large firms with very nice offices who charge accordingly.

Should I talk with my Solicitor about Bankruptcy?

No! You can speak with your solicitor in Canberra but more than likely it won't do you much good. Solicitors are certainly good at doing things lawyers do, like helping 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 Canberra will have either a legal or accounting qualifications, and the main reason for that is simply that you can't start in the post graduate study to become a qualified insolvency practitioner unless you have a law or accounting degree.

Just like there are a handful of insolvency accounting firms, there are very few insolvency legal practices in Australia, and yes if you choose one you will pay a considerable price for their expertise.

Should I speak with a financial counsellor about Bankruptcy?

Yes! There are lots of financial counselling services to help you through this, they have no hidden agendas and they're a terrific option for really helping you analyze your situation when it comes to Bankruptcy. If you find yourself stressing out constantly, not sleeping, not eating or over-eating and thinking of money pressures constantly, then get some help.

There are also charities around Canberra like Lifeline that offer a terrific service. They will be a sounding board if you just need a person to go over with you what your possibilities are. Don't let your financial issue destroy your life - in the end it's just money.

If you wish to learn more about what to do, where to turn and what issues to ask about Bankruptcy, then feel free to get in touch with Fresh Start Solutions Canberra on 1300 818 575, or visit our website: www.freshstartsolutions.com.au/bankruptcy-Canberra