Bankruptcy in Geelong - Who exactly do I speak to?

Should I consult with my accountant about Bankruptcy?

The answer seems clear doesn't it: if anybody knows your financial situation well in Geelong, It's going to be your accountant. However, 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 helping you save you money at tax time, reducing your tax liability and lodging your BAS.

Most accounting degrees will devote very little to no time on insolvency, it's generally performed as a post graduate speciality program 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 implications 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 Geelong, they often tend to be large firms with very nice offices who charge accordingly.

Should I chat with my Solicitor about Bankruptcy?

No! You can talk with your solicitor in Geelong but more than likely it won't do you much good. Solicitors are certainly good at carrying out things lawyers do, like helping you do your Will and buying your house and keeping you out of court if you're lucky. When it concerns Bankruptcy, the specialists in Geelong generally 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 until you have a law or accounting degree.

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

Should I speak to a financial counsellor about Bankruptcy?

Yes! There are plenty of financial counselling services that can help you with this, they have no hidden agendas and they're a delightful option for helping you analyze your circumstance when it comes to Bankruptcy. If you find yourself stressing out constantly, not sleeping, not eating or over-eating and thinking of money pressures regularly, then get some help.

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

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