Bankruptcy in Gold Coast - Who exactly do I speak to?

Should I talk with my accountant about Bankruptcy?

The answer seems obvious doesn't it: if anybody knows your financial situation well in Gold Coast, It's going to be your accountant. However, the short answer is a resounding No! It's not that your accountant does not have your best interests at heart when it comes to Bankruptcy, it's that his specialization lie in helping you save you money at tax time, minimizing 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 wish to work in the field. Unless your accountant is an insolvency specialist, he would not know that a lot about the implications of Bankruptcy, I can guarantee you insolvency specialists know much about tax returns or BAS in. If you do manage to find an insolvency accounting firm in Gold Coast, they often tend to be large firms with very nice office spaces who charge accordingly.

Should I speak to my Solicitor about Bankruptcy?

No! You can speak with your solicitor in Gold Coast 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 keeping you out of court if you're lucky. When it concerns Bankruptcy, the specialists in Gold Coast typically have either a legal or accounting qualifications, and the main 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 small number of insolvency accounting firms, there are very few insolvency legal practices in Australia, and yes if you locate one you will pay a sizeable price for their expertise.

Should I speak with a financial counsellor about Bankruptcy?

Yes! There are plenty of financial counselling services to help you through this, they have no hidden agendas and they're a great option for helping you analyze your situation when it comes to Bankruptcy. If you end up stressing out constantly, not sleeping, not eating or over-eating and thinking about money pressures all the time, then get some help.

There are also charitable organizations around Gold Coast like Lifeline that offer a wonderful 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 problem destroy your life - in the end it's just money.

If you would 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 Advice Gold Coast on 1300 879 867, or visit our website: www.bankruptcy-advice.com.au/Gold Coast .