Tuesday, April 19, 2016

Bankruptcy in Gold Coast - Are you going to get bitten?


When people in Gold Coast ask me about Bankruptcy, I tell them the classic 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 travelled together only for the snake to ultimately bite the boy despite his assurance not to do so. The snake's answer was 'You knew what I was when you picked me up.

Asking for the right financial advice in Gold Coast when it relates to Bankruptcy is a whole lot like that little boy's experience, fraught with risk and danger, and generally skewed for the benefit of the individual giving 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 learned the problem with receiving financial advice as a teenager, and it has been essential to Bankruptcy. I'd been keeping my nose to the grindstone for a few years, and saved up a little bit of money I wanted to invest. It was the early 1980s so interest rates were rather high and investing your money was really profitable. I spent a few years researching assorted 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 appeared to exude confidence and have all the solutions. What hit me was that they all had a really different strategy of what I should do. This puzzled me a lot that it put me off the whole idea of picking any of them.

I'm sure currently you have read enough on the internet to be totally confused about Bankruptcy and 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 attempting to get to the bottom of your financial issues in Gold Coast. In essence, you need to try and understand what your overarching choices are, do your own research into where to proceed with your plan for Bankruptcy, and after that approach just what you feel is best in Gold Coast for your needs. Essentially, you have 3 options for who to turn to.

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

Another solution you may think of is your accountant - they are incredibly useful and vital to the process of running 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 bet? A Financial Counsellor that can outline debt consolidation, personal insolvency agreements, and basically all you have to know when it comes to Bankruptcy.


If you wish to find out more about what to do, where to turn and what questions to ask about Bankruptcy, then feel free to call Fresh Start Solutions Gold Coast on 1300 818 575, or visit our website: freshstartsolutions.com.au/bankruptcy-Gold Coast