Bankruptcy in Canberra and how to avoid getting bitten.
When people in Canberra talk to me about Bankruptcy, I tell them the classic Native American Fable of the little boy and the Rattlesnake. An old rattlesnake demands a passing young boy to take him to the mountain top to see one last sunset before he passes away. The boy was reluctant, but the rattlesnake pledged not to bite him in exchange for the trip. They travelled side by side only for the snake to inevitably bite the boy despite his promise not to so. The snake’s reaction was ‘You knew what I was when you picked me up.’ – Now it is a tale that is also known as the Scorpion and the Toad, and by many other names, but the message is the same – know what you are getting before you pick it up.
Acquiring the correct financial help in Canberra with Bankruptcy is a lot like that small boy’s journey, full of risk and peril, and usually skewed for the advantage of the person giving the advice. Most of the time you’ll get bitten unless you understand what you have really picked up long before you proceed (keep away from the rattlesnakes). I learned the problem with getting financial advice as a young adult, and it has actually been essential to Bankruptcy. I ‘d been working really hard for a number of years, and saved up a modest sum of money I chose to invest. It was the early 1980s so interest rates were simply fairly high and investing your money was quite financially rewarding. I spent a few years investigating various investment options, and I went to visit a few financial advisors. It was clear that they had much more money than I did: they had nice suits and lush offices, they all seemed to project confidence and have all the solutions. What struck me was that they all had a really different strategy of what I should do. This puzzled me so much that it put me off the entire idea of deciding on any of them.
I’m sure that you have read more than enough online to be totally puzzled about Bankruptcy and precisely what to do. It would probably be much simpler for me to help you comprehend the nature of the financial snakes you may be grasping while you are attempting to get to the bottom of your financial problems in Canberra. Essentially, you have to try and determine what your overarching choices are, do your very own investigation into where to push on with your plan for Bankruptcy, then afterwards approach what you feel is best in Canberra for your needs. In a nutshell, you have 3 options for who to turn to.
The first choice is a Solicitor– This may look like the go-to possibility when you appear to be in trouble. But certainly there is only just so much help they can give on this matter. There are absolutely specialist legal experts in personal bankruptcy, but their experience comes with a hefty price.
Another option you may think about is your accountant– they are extremely helpful and vital to the program of managing your business, but for the most part, when you are thinking about Bankruptcy, your accountant won’t be very much support to you any more.
Your best option? A Financial Counsellor that can outline debt consolidation, personal insolvency agreements, and pretty much all you need to know when it comes to Bankruptcy.
If you wish to figure out more about what to do, where to turn and what questions to ask about Bankruptcy, then feel free to speak with Bankruptcy Experts Canberra on 1300 795 575, or check out our website: www.bankruptcyexpertscanberra.com.au.