|November 23, 2016||Comments Closed|
Should I talk to my financial advisor about Bankruptcy?
The answer seems obvious doesn’t it: if anyone understands your financial situation well in Mount Isa, It’s going to be your financial advisor. However, the short answer is a definite 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, lowering your tax liability and lodging your BAS.
A lot of accounting degrees will devote hardly any to no time at all on bankruptcy, it’s typically undertaken as a post graduate specialized program for those who aim to do work in the field. Unless your accounting professional is an insolvency expert, he would not know a lot about the impacts of Bankruptcy. I can assure you insolvency specialists don’t know much about tax returns or BAS. If you do happen to find an insolvency bookkeeping firm in Mount Isa, they have the tendency to be large firms with extremely pleasant workplaces who bill accordingly.
Would I talk with my Solicitor about Bankruptcy?
No! You can talk to your solicitor in Mount Isa but more than likely it won’t do you much good. Solicitors are absolutely good at doing things lawyers do, like supporting you to create your Will and purchasing your house and trying to help keep you away from court if you’re lucky. When it comes to Bankruptcy, the experts in Mount Isa usually have either a legal or accounting certifications, and the main reason for that is just that you can’t begin in the post graduate study to become a qualified bankruptcy specialist except if you have a law or accounting degree.
Just as there are a handful of bankruptcy accountancy firms, there are very few bankruptcy legal businesses in Australia, and yes if you find one you will pay an adequate rate for their knowledge.
Would I talk to a financial counsellor about Bankruptcy?
Yes! There are a great deal of financial counselling solutions to help you through this, they possess no hidden agendas and they are a great option for permitting you to evaluate your case when it comes to Bankruptcy. If you end up stressing out frequently, not sleeping, not eating or over-eating and thinking of money strains consistently, then obtain some support.
There are also charitable organizations around Mount Isa like Lifeline that offer a terrific service. They will be a sounding board if you just need a person to review with you what your possibilities are. Don’t let your financial issues ruin your life – at the end of the day, it’s just money.
If you truly wish to learn more regarding what to do, where to turn and what problems to ask about Bankruptcy, then don’t hesitate to get in touch with Bankruptcy Experts Mount Isa on 1300 795 575, or visit our website: www.bankruptcyexpertsmountisa.com.au.