Going Bankrupt in Alice Springs – Are you going to get bitten?


When people in Alice Springs ask me about Going Bankrupt, 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 view one last sunset before he dies. The boy was hesitant, but the rattlesnake pledged not to bite him in exchange for the ride. They journeyed together only for the snake to in the end bites the boy despite his promise 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 Alice Springs when it concerns Going Bankrupt is a lot like that little boy’s experience, laden with risk and danger, and usually skewed for the benefit of the individual providing the advice. In most cases you’ll get bitten unless 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 fundamental to Going Bankrupt. 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 rather high and investing your money was very profitable. I spent a few years researching different investment options, and I went to visit a few financial advisors. It was transparent that they had more money than I did: they had great suits and plush offices; they all seemed to exude confidence and have all the solutions. What struck me was that they all had an extremely different strategy of what I should do. This confused me a lot that it put me off the entire idea of choosing any of them.

I’m sure currently you have read enough on the internet to be totally mixed up about Going Bankrupt and precisely what to do. It would undoubtedly be easier for me to help you learn about the nature of the financial snakes you may be picking up while you are trying to get to the bottom of your financial concerns in Alice Springs. Basically, you need to try and recognize what your overarching alternatives are, do your very own research into where to proceed with your strategy for Going Bankrupt, and then approach just what you feel is best in Alice Springs for your requirements. Essentially, you have 3 options for whom to turn to.

The first option is a Solicitor – This may appear like the go-to solution when you appear to be in trouble. But certainly there is only just so much support 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 about is your accountant – they are incredibly useful and vital to the process of operating your business, but for the most part, when you are thinking of Going Bankrupt, your accountant won’t be much help to you anymore.

Your best option? A Financial Counsellor that can talk about debt consolidation, personal insolvency agreements, and pretty much all you should know when it comes to Going Bankrupt.

If you would like to learn more about what to do, where to turn and what questions to ask about Going Bankrupt, then feel free to consult with Bankruptcy Experts Alice Springs on 1300 795 575, or visit our website: WWW.bankruptcyexpertsAliceSprings.com.au.