Bankruptcy in Port Macquarie - Who exactly do I speak to?

Should I talk to my accountant about Bankruptcy?

The answer seems obvious doesn't it: if anyone knows your financial situation well in Port Macquarie, 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 at heart 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 put in 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 wouldn't 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 Port Macquarie, they have the tendency to be large firms with very nice offices who charge accordingly.

Should I talk with my Solicitor about Bankruptcy?

No! You can speak with your solicitor in Port Macquarie 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 comes to Bankruptcy, the specialists in Port Macquarie 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 unless 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 locate one you will pay a hefty price for their expertise.

Should I talk 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 fabulous option for letting you analyze your circumstance when it comes to Bankruptcy. If you are 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 Port Macquarie like Lifeline that offer a terrific service. They will be a sounding board if you just need a person to talk about with you what your options are. Don't let your financial problem destroy your life - in the end it's just money.

If you really want to learn more about what to do, where to turn and what questions to ask about Bankruptcy, then feel free to speak to Bankruptcy Experts Port Macquarie on 1300 795 575, or visit our website: www.bankruptcyexpertsPortmacquarie.com.au.