Bankruptcy in Maitland - Who exactly do I speak to?

Should I talk to my accountant about Bankruptcy?

The answer seems obvious doesn't it: if anybody knows your financial situation well in Maitland, It's going to be your accountant. However, the short answer is a definite 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, minimising your tax liability and lodging your BAS.

Most accounting degrees will spend hardly any to no time on bankruptcy, it's generally performed as a post graduate specialty program for those who intend to work in the field. Unless your accountant is an insolvency expert, he will 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 Maitland, they often tend to be large firms with very nice offices who charge accordingly.

Should I consult my Solicitor about Bankruptcy?

No! You can speak to your solicitor in Maitland but more than likely it won't do you much good. Solicitors are definitely good at doing things lawyers do, like helping you do your Will and buying your house and trying to keep you out of court if you're lucky. When it relates to Bankruptcy, the specialists in Maitland normally have either a legal or accounting qualifications, 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 find one you will pay a sizeable price for their expertise.

Should I speak with a financial counsellor about Bankruptcy?

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

There are also charities around Maitland like Lifeline that offer a fantastic service. They will be a sounding board if you just need someone to discuss with you what your possibilities are. Don't let your financial trouble destroy your life - ultimately it's just money.

If you really want to learn more about what to do, where to turn and what points to ask about Bankruptcy, then feel free to contact Bankruptcy Experts Maitland on 1300 795 575, or visit our website: www.bankruptcyexpertsMaitland.com.au.