Should I talk to my accountant about Bankruptcy?


The response seems obvious doesn’t it: if anyone knows your financial situation well in Hervey Bay, It’s going to be your financial advisor. However, the short answer is a resounding No! It’s not that your accountant may not have your best interests in mind whenever it comes to Bankruptcy, it’s that his experience lies in helping you save you money at tax time, decreasing your tax liability and lodging your BAS.

Most accounting certifications will dedicate hardly any to no time at all on insolvency, it’s normally performed as a post graduate specialization course for those who aim to work in the industry. Unless your accountant is a bankruptcy professional, he would not know a lot about the impacts of Bankruptcy. I can assure you bankruptcy specialists don’t know much about tax returns or BAS. If you do happen to find an insolvency accounting firm in Hervey Bay, they have the tendency to be big firms with very pleasant business offices who bill accordingly.

Must I talk with my Solicitor about Bankruptcy?

No! You can speak with your solicitor in Hervey Bay but more than likely it won’t do you much good. Solicitors are certainly good at doing things lawyers do, like helping you to do your Will and purchasing your house and trying to keep you away from court if you’re fortunate. When it comes to Bankruptcy, the experts in Hervey Bay typically have possibly a legal or accounting certifications, and the primary justification for that is just that you can’t start off in the post graduate study to become a certified insolvency practitioner unless if you get a law or accounting degree.

Just as there are a number of bankruptcy accounting companies, certainly there are few bankruptcy legal businesses in Australia, and indeed if you find one you will pay an ample rate for their proficiency.

Would I speak with a financial counsellor about Bankruptcy?

Yes! There are a number of financial counselling services to assist you with this, they have no prejudices and they’re a great option for allowing you to evaluate your scenario when it comes to Bankruptcy. If you turn out stressing constantly, not sleeping, not eating or over-eating and contemplating finance tensions regularly, then get some help.

There are also charitable organizations around Hervey Bay like Lifeline that give an outstanding service. They will certainly be a sounding board if you just require a person to evaluate with you what your alternatives are. Do not let your financial difficulties ruin your life – ultimately it’s just money.

If you truly wish to find out more regarding what to do, where to turn and what problems to ask about Bankruptcy, then don’t hesitate to get in touch with Bankruptcy Experts Hervey Bay on 1300 795 575, or visit our website: