Bankruptcy in Canberra - Are you going to get bitten?

When people in Canberra ask me about Bankruptcy, I tell them 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 promised not to bite him in exchange for the ride. They journeyed together only for the snake to ultimately bite the boy despite his vow not to do so. The snake's reply was 'You knew what I was when you picked me up.

Getting the right financial advice in Canberra when it concerns Bankruptcy is a whole lot like that little boy's journey, fraught with risk and danger, and normally skewed for the benefit of the individual providing the advice. In most cases you'll get bitten except if you know what you've picked up long before you move forward (avoid the rattlesnakes). I discovered the problem with receiving financial advice as a teenager, and it has been key 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 very high and investing your money was rather profitable. I spent time researching varying investment options, and I went to visit a few financial advisors. It was clear 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 solutions. What hit me was that they all had a very different strategy of what I should do. This confused me a lot that it put me off the whole idea of choosing any of them.

I'm sure currently you have read more than enough on the internet to be totally bewildered about Bankruptcy and exactly what to do. It would undoubtedly be easier for me to help you understand the nature of the financial snakes you might be picking up while you are attempting to get to the bottom of your financial problems in Canberra. Basically, you need to try and understand what your overarching options are, do your own research into where to proceed with your strategy for Bankruptcy, and after that approach what you feel is best in Canberra for your requirements. Essentially, you have 3 options for who to turn to.

The first option is a Solicitor - This may seem like the go-to possibility when you appear to be in trouble. But there is only so much aid they can give on this matter. There are absolutely specialist legal advisors in bankruptcy, but their expertise comes with a hefty price.

Another choice you may consider is your accountant - they are incredibly helpful and vital to the process of running your business, but for the most part, when you are considering Bankruptcy, your accountant won't be much help to you anymore.

Your best bet? A Financial Counsellor that can talk about debt consolidation, personal insolvency agreements, and virtually all you should understand 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 Advice Canberra on 1300 879 867, or visit our website:bankruptcy-advice.com.au/Canberra .