Wednesday, March 30, 2016

Bankruptcy in Perth - Are you going to get bitten?

When people in Perth ask me about Bankruptcy, I let them know 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 discover one last sunset before he passes away. The boy was hesitant, but the rattlesnake vowed not to bite him in exchange for the ride. They went together only for the snake to in the end attack the boy despite his promise 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 Perth when it concerns Bankruptcy is a great deal like that little boy's encounter, laden with risk and danger, and typically skewed for the benefit of the person presenting the advice. In many 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 obtaining financial advice as a teenager, and it has been necessary to Bankruptcy. I'd been working hard 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 quite high and investing your money was quite profitable. I spent some time researching different 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 struck me was that they all had a really different strategy of what I should do. This frustrated me so much that it put me off the entire idea of selecting any of them.

I'm sure currently you have read enough on the internet to be totally bewildered about Bankruptcy and what to do. It would undoubtedly be easier for me to help you comprehend the nature of the financial snakes you might be grabbing while you are attempting to get to the bottom of your financial concerns in Perth. In essence, you need to try and recognize what your overarching alternatives are, do your very own research into where to proceed with your strategy for Bankruptcy, and then approach what you feel is best in Perth for your requirements. Essentially, you have 3 options for who to turn to.

The first option is a Solicitor - This may look like the go-to approach when you seem 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 knowledge comes with a hefty price.

Another possibility you may think about 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 of Bankruptcy, your accountant won't be much help to you any more.

Your best option? A Financial Counsellor that can outline debt consolidation, personal insolvency agreements, and basically all you need to figure out when it comes to Bankruptcy.

If you would like to find out more about what to do, where to turn and what questions to ask about Bankruptcy, then feel free to call Bankruptcy Experts Perth on 1300 795 575, or visit our website:

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