Bankruptcy in Geraldton - Who do I talk to?

Should I talk with my accountant about Bankruptcy?

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

Most accounting degrees will invest hardly any to no time on insolvency, it's generally performed as a post graduate speciality course for those who intend to work in the field. Unless your accountant is an insolvency specialist, he will not 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 happen to find an insolvency accounting firm in Geraldton, they have the tendency to be large firms with very nice office spaces who charge accordingly.

Should I consult my Solicitor about Bankruptcy?

No! You can speak with your solicitor in Geraldton but more than likely it won't do you much good. Solicitors are certainly 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 Geraldton tend to have either a legal or accounting background, 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 choose one you will pay a sizeable price for their expertise.

Should I speak to a financial counsellor about Bankruptcy?

Yes! There are lots of financial counselling services to aid you through this, they have no hidden agendas and they're a superb option for letting you think through your situation when it comes to Bankruptcy. If you find yourself stressing constantly, not sleeping, not eating or over-eating and thinking about money pressures at all times, then get some help.

There are also charitable organizations around Geraldton like Lifeline that offer an excellent service. They will be a sounding board if you just need somebody to go over with you what your choices are. Don't let your financial issue destroy your life - ultimately it's just money.

If you want to learn more about what to do, where to turn and what matters to ask about Bankruptcy, then feel free to get in touch with Bankruptcy Experts Geraldton on 1300 795 575, or visit our website: www.bankruptcyexpertsGeraldton.com.au.