When people in
Australia ask me about Bankruptcy, I
let them know the timeless Native American Fable of the little boy and the
Rattlesnake. An old rattlesnake asks a passing young boy to carry 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
ride. They journeyed together only for the snake to eventually attack the boy
despite his vow not to do so. The snake's response was 'You knew what I was
when you picked me up.
Getting the
right financial advice in Australia when it concerns Bankruptcy is a lot like
that little boy's experience, tangled up with risk and danger, and normally
skewed for the benefit of the person giving the advice. In most cases you'll
get bitten except if you know what you've picked up before you move forward
(avoid the rattlesnakes). I discovered the problem with getting financial
advice as a teenager, and it has been vital to Bankruptcy. I'd been keeping my
nose to the grindstone for a few years, and saved up a small amount of money I
wanted to invest. It was the early 1980s so interest rates were quite high and
investing your money was rather profitable. I spent a few years researching
several investment options, and I went to visit a few financial advisors. It
was obvious that they had more money than I did: they had nice suits and plush
offices, they all seemed to exude confidence and have all the answers. What hit
me was that they all had a very different strategy of what I should do. This
confused me so much that it put me off the entire idea of picking any of them.
I'm sure by now
you have read enough on the internet to be totally bewildered about Bankruptcy
and exactly what to do. It would probably be easier for me to help you
understand the nature of the financial snakes you may be picking up while you
are trying to get to the bottom of your financial issues in Australia.
Essentially, you need to try and recognize what your overarching options are,
do your own research into where to proceed with your plan for Bankruptcy, and
then approach the things you feel is best in Australia for your needs.
Essentially, you have 3 options for who to turn to.
The first option
is a Solicitor - This may appear like the go-to choice when you appear to be in
trouble. But generally there is only so much support they can give on this
matter. There are absolutely specialist legal advisors in bankruptcy, but their
experience comes along with a hefty price.
Another
possibility you may think of is your accountant - they are incredibly helpful
and vital to the task of operating your business, but for the most part, when
you are thinking about Bankruptcy, your accountant won't be much help to you
anymore.
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 would
like to learn more about what to do, where to turn and what questions to ask
about Bankruptcy, then feel free to speak to Bankruptcy Experts Australia on
1300 795 575, or visit our website: bankruptcyexperts.com.au
