Bankruptcy in Geelong – Who do I talk to?

Would I speak with my financial advisor about Bankruptcy?

MegaphoneThe response seems to be obvious doesn’t it: if anyone understands your financial situation well in Geelong, It’s going to be your accountant. However, the short answer is a definite No! It’s not that your financial advisor may not have your best interests in mind whenever it comes to Bankruptcy, it’s that his experience depends on assisting you save you money at tax time, reducing your tax liability and lodging your BAS.

A lot of accounting degrees will dedicate hardly any to no time on insolvency, it’s typically performed as a post graduate specialty course for those who intend to work in the field. Unless your financial advisor is a bankruptcy specialist, he would certainly not know a great deal about the impacts of Bankruptcy. I can assure you bankruptcy specialists don’t know a lot about tax returns or BAS. If you do happen to identify an insolvency accounting firm in Geelong, they have the tendency to be large firms with very nice business offices who charge accordingly.

Would I talk with my Solicitor about Bankruptcy?

No! You can talk to your solicitor in Geelong but more than likely it won’t do you much good. Solicitors are certainly proficient at carrying out things lawyers do, like helping you to do your Will and purchasing your home and trying to help keep you away from court if you’re lucky. When it comes to Bankruptcy, the professionals in Geelong typically have either a legal or accounting qualifications, and the main justification for that is basically that you can not begin in the post graduate study to become a qualified insolvency specialist except if you get a law or accounting degree.

Just as there are a handful of bankruptcy accountancy agencies, there are very few insolvency legal practices in Australia, and indeed if you find one you will pay an ample fee for their expertise.

Would I speak with a financial counsellor about Bankruptcy?

Yes! There are a lot of financial counselling services to help you through this, they have no hidden agendas and they’re a great option for permitting you to evaluate your scenario when it comes to Bankruptcy. If you wind up stressing continuously, not sleeping, not eating or over-eating and thinking of money pressures consistently, then obtain some help.

There are also charitable organizations around Geelong like Lifeline that supply an outstanding service. They will be a sounding board if you simply need a person to review with you what your alternatives are. Do not let your financial trouble ruin your life – ultimately it’s just money.

If you truly want to find out more regarding what to do, where to turn and what issues to ask about Bankruptcy, then feel free to get in touch with Bankruptcy Experts Geelong on 1300 795 575, or visit our website:

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