Bankruptcy in Mackay - Who exactly do I talk to?

Should I speak with my accountant about Bankruptcy?

The answer seems clear doesn't it: if anyone knows your financial situation well in Mackay, It's going to be your accountant. However, the short answer is a resounding No! It's not that your accountant won't have your best interests in mind when it comes to Bankruptcy, it's that his experience lie in helping you save you money at tax time, reducing your tax liability and lodging your BAS.

Most accounting degrees will invest very little to no time on bankruptcy, it's generally done as a post graduate speciality course for those who intend 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 assure you insolvency specialists know much about tax returns or BAS in. If you do happen to find an insolvency accounting firm in Mackay, they have the tendency to be large firms with very nice office spaces who charge accordingly.

Should I speak to my Solicitor about Bankruptcy?

No! You can talk to your solicitor in Mackay but more than likely it won't do you much good. Solicitors are really 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 comes to Bankruptcy, the specialists in Mackay usually have either a legal or accounting background, and the main reason for that is simply that you can't start in the post graduate study to become a qualified insolvency practitioner except if you have a law or accounting degree.

Just as there are a couple of insolvency accounting firms, there are very few insolvency legal practices in Australia, and yes if you choose one you will pay an ample price for their expertise.

Should I speak to 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 really helping you analyze your situation when it comes to Bankruptcy. If you end up 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 Mackay like Lifeline that offer a wonderful service. They will be a sounding board if you just need somebody to review with you what your choices are. Don't let your financial issue destroy your life - ultimately it's just money.

If you wish to learn more about what to do, where to turn and what problems to ask about Bankruptcy, then feel free to contact Bankruptcy Experts Mackay on 1300 795 575, or visit our website: www.bankruptcyexpertsMackay.com.au.