Bankruptcy in Pert - Who exactly do I talk to?

Should I speak to my accountant about Bankruptcy?

The answer seems clear doesn't it: if anybody knows your financial circumstance well in Perth, 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 proficiency 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 done as a post graduate specialty program for those who want to work in the field. Unless your accountant is an insolvency expert, he won'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 Perth, they tend to be large firms with very nice offices who charge accordingly.

Should I talk with my Solicitor about Bankruptcy?

No! You can talk to your solicitor in Perth but more than likely it won't do you much good. Solicitors are really good at carrying out 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 Perth tend to have either a legal or accounting qualifications, and the main 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 choose one you will pay a substantial price for their expertise.

Should I speak with a financial counsellor about Bankruptcy?

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

There are also charitable organizations around Perth like Lifeline that offer a fantastic service. They will be a sounding board if you just need a person to discuss with you what your choices are. Don't let your financial trouble destroy your life - in the end it's just money.

If you want to learn more about what to do, where to turn and what problems to ask about Bankruptcy, then feel free to speak to Fresh Start Solutions Perth on 1300 818 575, or visit our website: www.freshstartsolutions.com.au/bankruptcy-Perth