Should I speak with my accountant about Bankruptcy?


The response seems clear doesn’t it: if anybody understands your financial situation well in Wollongong, It’s going to be your accountant. Nonetheless, the short answer is a resounding No! It’s not that your accountant may not have your best interests in mind when it comes to Bankruptcy, it’s that his expertise lie in assisting you save you money at tax time, lowering your tax liability and lodging your BAS.

A lot of accounting degrees will dedicate hardly any to no time on bankruptcy, it’s normally undertaken as a post graduate specialized program for those who plan to do work in the industry. Unless your accounting professional is an insolvency professional, he would certainly not know a lot about the effects 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 bookkeeping firm in Wollongong, they have the inclination to be large firms with extremely pleasant workplaces who charge accordingly.

Should I talk with my Solicitor about Bankruptcy?

No! You can speak to your solicitor in Wollongong but more than likely it won’t do you very much good. Solicitors are definitely proficient at carrying out things lawyers do, like assisting you to create your Will and buying your home and trying to help keep you away from court if you’re fortunate. When it comes to Bankruptcy, the experts in Wollongong usually have either a legal or accounting qualifications, and the primary justification for that is simply that you can’t start off in the post graduate study to become a certified insolvency practitioner except if you get a law or accounting degree.

Just as there are a number of bankruptcy accounting firms, certainly there are few insolvency legal businesses in Australia, and yes if you find one you will pay out an adequate price tag for their proficiency.

Should I talk to a financial counsellor about Bankruptcy?

Yes! There are a lot of financial counselling services to help you with this, they have no prejudices and they are a great option for permitting you to analyze your situation when it comes to Bankruptcy. If you turn out stressing constantly, not sleeping, not eating or over-eating and contemplating money tensions consistently, then get some help.

There are also charities around Wollongong like Lifeline that supply a fantastic service. They will certainly be a sounding board if you just need a person to evaluate with you what your possibilities are. Never let your financial issues 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 troubles to ask about Bankruptcy, then feel free to get in touch with Bankruptcy Experts Wollongong on 1300 795 575, or visit our website: