Bankruptcy in Sydney – Who do I talk to?

Should I talk to my financial advisor about Bankruptcy?

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The response seems obvious doesn’t it: if anyone knows your financial circumstance well in Sydney, It’s going to be your accountant. Nonetheless, the short answer is a definite No! It’s certainly not that your accountant may not have your best interests in mind whenever it concerns Bankruptcy, it’s that his knowledge lies in serving to help you save you money at tax time, reducing your tax liability and lodging your BAS.

Most accounting degrees will commit very little to no time at all on bankruptcy, it’s generally performed as a post graduate specialized program for those who aim to operate in the sector. Unless your financial advisor is an insolvency expert, he would certainly not know a lot about the effects of Bankruptcy. I can assure you bankruptcy specialists don’t know a lot about tax returns or BAS. If you do happen to find an insolvency accounting firm in Sydney, they have the tendency to be large firms with very nice business offices who bill accordingly.

Must I talk with my Solicitor about Bankruptcy?

No! You can speak to your solicitor in Sydney but more than likely it won’t do you very much good. Solicitors are definitely good at accomplishing things lawyers do, like assisting you to do your Will and purchasing your house and attempting to help keep you away from court if you’re fortunate. When it comes to Bankruptcy, the professionals in Sydney normally have possibly a legal or accounting qualifications, and the main reason for that is basically that you can not begin in the post graduate study to become a qualified insolvency specialist except if you possess a law or accounting degree.

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

Should I speak with a financial counsellor about Bankruptcy?

Yes! There are a great deal of financial counselling services to help you with this, they have no hidden agendas and they are a great choice for allowing you to evaluate your case when it comes to Bankruptcy. If you end up stressing out continuously, not sleeping, not eating or over-eating and thinking about money strains frequently, then obtain some support.

There are also charities around Sydney like Lifeline that provide a fantastic service. They will be a sounding board if you just need a person to review with you what your possibilities are. Never let your financial trouble destroy your life – ultimately it’s just money.

If you really want to learn more regarding what to do, where to turn and what issues to ask about Bankruptcy, then don’t hesitate to get in touch with Bankruptcy Experts Sydney on 1300 795 575, or visit our website: