Bankruptcy in Rockhampton - Who exactly do I talk to?

Should I speak with my accountant about Bankruptcy?

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

Most accounting degrees will devote very little to no time on bankruptcy, it's generally performed as a post graduate specialty course for those who wish to work in the field. Unless your accountant is an insolvency specialist, he won't 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 Rockhampton, they have the tendency to be large firms with very nice office spaces who charge accordingly.

Should I consult with my Solicitor about Bankruptcy?

No! You can speak to your solicitor in Rockhampton but more than likely it won't do you much good. Solicitors are really good at carrying out things lawyers do, like assisting you do your Will and buying your house and keeping you out of court if you're lucky. When it comes to Bankruptcy, the specialists in Rockhampton will have either a legal or accounting experience, and the reason for that is simply that you can't enrol in the post graduate study to become a qualified insolvency practitioner unless you have a law or accounting degree.

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

Should I speak with a financial counsellor about Bankruptcy?

Yes! There are a lot of financial counselling services to guide you with this, they have no hidden agendas and they're a fantastic option for really helping you think through your circumstance when it comes to Bankruptcy. If you end up stressing out constantly, not sleeping, not eating or over-eating and thinking about money pressures regularly, then get some help.

There are also charitable organizations around Rockhampton like Lifeline that offer an excellent service. They will be a sounding board if you just need someone to talk about with you what your alternatives are. Don't let your financial issue destroy your life - in the end it's just money.

If you would like to learn more about what to do, where to turn and what points to ask about Bankruptcy, then feel free to speak to Bankruptcy Experts Rockhampton on 1300 795 575, or visit our website: www.bankruptcyexpertsRockhampton.com.au.