Bankruptcy in Wollongong and how to avoid getting bitten.

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Bankruptcy in Wollongong and how to avoid getting bitten.

When people in Wollongong ask me about Bankruptcy, I love telling them about the classic Native American Fairy tale 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 dies. The boy was unsure, but the rattlesnake gave his word that he would not to bite him in exchange for the lift. They travelled with each other only for the snake to inevitably bite the boy despite his promise not to bite him so. The snake’s response 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.

bankruptcyFinding the ideal financial help in Wollongong with Bankruptcy is a whole lot like that little boy’s journey, full of risk and peril, and usually skewed for the advantage of the individual offering the advice. In many cases you’ll get bitten unless you know what you’ve picked up long before you begin (keep away from the rattlesnakes). I discovered the trouble with getting financial advice as a young adult, and it has definitely been key to Bankruptcy. I ‘d been working really hard for a number of years, and saved up a modest sum of money I wanted to invest. It was the early 1980s so interest rates were generally fairly high and investing your money was quite financially successful. I spent a few years researching various investment options, and I went to check out a few financial advisors. It was very clear that these guys had a lot more money than I did: they had good suits and posh offices, they all seemed to give off confidence and have all the answers. What hit me was that they all had a very different strategy of exactly what I should do. This puzzled me so much that it put me off the whole idea of picking any of them.

I’m sure that you have found out more than enough on the internet to be totally puzzled about Bankruptcy and exactly what to do. It would probably be much easier for me to help you appreciate the nature of the financial snakes you might be taking hold of while you are aiming to get to the bottom of your financial issues in Wollongong. Basically, you have to try and figure out what your overarching options are, do your own research into where to move on with your strategy for Bankruptcy, then afterwards approach what you feel is best in Wollongong for your needs. Generally, you have 3 choices for who to look to.

The first option is a Solicitor– This may look like the go-to choice when you seem to be in trouble. But certainly there is only just so much support they can provide on this matter. There are most definitely specialist legal experts in personal 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 process 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 essentially all you have to know when it comes to Bankruptcy.

If you want to find out more about what to do, where to turn and what issues to ask about Bankruptcy, then feel free to speak with Bankruptcy Experts Wollongong on 1300 795 575, or check out our website: www.bankruptcyexpertswollongong.com.au.

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