Bankruptcy in Alice Springs - Who do I talk to?

Should I talk to my accountant about Bankruptcy?

The answer seems obvious doesn't it: if anybody knows your financial situation well in Alice Springs, It's going to be your accountant. However, the short answer is a resounding No! It's not that your accountant doesn't 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, minimising your tax liability and lodging your BAS.

Most accounting degrees will spend hardly any to no time on bankruptcy, it's generally carried out as a post graduate speciality program for those who wish to work in the field. Unless your accountant is an insolvency expert, he won't 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 manage to find an insolvency accounting firm in Alice Springs, they often tend to be large firms with very nice offices who charge accordingly.

Should I chat with my Solicitor about Bankruptcy?

No! You can speak to your solicitor in Alice Springs but more than likely it won't do you much good. Solicitors are really good at undertaking 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 Alice Springs often tend to 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 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 an ample price for their expertise.

Should I speak with a financial counsellor about Bankruptcy?

Yes! There are plenty of financial counselling services to assist you with this, they have no hidden agendas and they're a terrific option for really helping you think through your circumstance when it comes to Bankruptcy. If you find yourself stressing out 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 Alice Springs like Lifeline that offer a remarkable service. They will be a sounding board if you just need somebody to go over with you what your choices are. Don't let your financial trouble destroy your life - ultimately it's just money.

If you need to learn more about what to do, where to turn and what problems to ask about Bankruptcy, then feel free to call Bankruptcy Experts Alice Springs on 1300 795 575, or visit our website: www.bankruptcyexpertsAliceSprings.com.au.