Bankruptcy Information in Australia – Who exactly do I talk to?

Should I consult with my accountant about Bankruptcy Information?

The answer seems obvious doesn’t it: if anyone knows your financial situation well in Australia, It’s going to be your accountant. However, the short answer is a resounding No! It’s not that your accountant will not have your best interests at heart when it comes to Bankruptcy Information, it’s that his abilities lie in helping you save you money at tax time, minimizing your tax liability and lodging your BAS.

Most accounting degrees will put in hardly any to no time on bankruptcy, it’s generally performed as a post graduate specialty program for those who intend to work in the field. Unless your accountant is an insolvency specialist, he would not know that a lot about the effects of Bankruptcy Information, I can guarantee you insolvency specialists know much about tax returns or BAS in. If you do happen to find an insolvency accounting firm in Australia, they often tend to be large firms with very nice office spaces who charge accordingly.

Should I talk to my Solicitor about Bankruptcy Information?

No! You can speak to your solicitor in Australia but more than likely it won’t do you much good. Solicitors are really good at doing things lawyers do, like assisting you do your Will and buying your house and trying to keep you out of court if you’re lucky. When it relates to Bankruptcy Information, the specialists in Australia typically have either a legal or accounting background, and the reason for that is simply that you can’t start in the post graduate study to become a qualified insolvency practitioner except if you have a law or accounting degree.

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

Should I talk to a financial counsellor about Bankruptcy Information?

Yes! There are a lot of financial counselling services to guide you with this, they have no hidden agendas and they’re a splendid option for really helping you analyze your situation when it comes to Bankruptcy Information. If you end up 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 Australia like Lifeline that offer a terrific service. They will be a sounding board if you just need someone to talk about with you what your options are. Don’t let your financial issue destroy your life – in the end it’s just money.

If you like to learn more about what to do, where to turn and what matters to ask about Bankruptcy Information, then feel free to call Bankruptcy Advice Australia on 1300 879 867, we have offices in, Brisbane, Canberra, Sunshine Coast, Sydney, Melbourne, Gold Coast, Adelaide, Perth, Darwin and Hobart. or visit our website: