Bankruptcy in Sunshine Coast - Who do I talk to?

Should I speak to my accountant about Bankruptcy?

The answer seems clear doesn't it: if anyone knows your financial situation well in Sunshine Coast, 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 know-how lie in helping you save you money at tax time, lowering your tax liability and lodging your BAS.

Most accounting degrees will devote hardly any to no time on insolvency, it's generally done as a post graduate speciality program for those who want to work in the field. Unless your accountant is an insolvency specialist, he would 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 manage to find an insolvency accounting firm in Sunshine Coast, they tend to be large firms with very nice offices who charge accordingly.

Should I talk to my Solicitor about Bankruptcy?

No! You can speak with your solicitor in Sunshine Coast but more than likely it won't do you much good. Solicitors are really good at undertaking 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 Sunshine Coast will have either a legal or accounting qualifications, and the reason for that is simply that you can't enrol in the post graduate study to become a qualified insolvency practitioner until 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 sizable price for their expertise.

Should I speak to a financial counsellor about Bankruptcy?

Yes! There are lots of financial counselling services to help you with this, they have no hidden agendas and they're a delightful option for really helping you think through your situation when it comes to Bankruptcy. If you find yourself freaking out constantly, not sleeping, not eating or over-eating and thinking about money pressures constantly, then get some help.

There are also charitable organizations around Sunshine Coast like Lifeline that offer a terrific service. They will be a sounding board if you just need somebody to go over with you what your possibilities are. Don't let your financial issue destroy your life - ultimately 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 call Bankruptcy Advice Sunshine Coast on 1300 879 867, or visit our website: www.bankruptcy-advice.com.au/Sunshine Coast .