What to discuss at the first meeting
Explain the debts, assets, income and any enforcement already underway. Ask about the consequences and available options before treating bankruptcy as the only possible response.
Use AFSA’s information as a starting point and seek advice on the actual circumstances before making a decision.
Working with a firm in South Coast
The South Coast directory area stretches across several separate towns, from Nowra and Ulladulla to Bega and Eden. An office somewhere in the region may still be a substantial journey from home.
For personal bankruptcy, ask which parts of the work the firm handles itself and whether it has relevant NSW experience. Let the lawyer know if a property, employer, other party or existing proceeding is outside South Coast. Your home address alone does not determine the applicable process.
How the engagement may progress
Explain the transaction, amount involved, parties and desired result. Provide the current agreement and relevant entity or trust details.
Ask which risks need legal, accounting, tax or technical advice. Identify essential terms and those you are willing to negotiate.
Agree who negotiates, approves documents and tracks continuing obligations. Clarify whether post-completion advice is included.
Fees and the scope of work
Request a defined scope or staged budget with assumptions about document review and negotiation rounds. Personal guarantees, tax and related disputes may need separate work.
Ask for a written scope identifying the work you are authorising, the person responsible and when costs will be reviewed. If you only want advice on one step, say so before the firm begins wider work.
Dates to raise at first contact
Highlight signing dates, finance conditions and demands. Raise an inability to meet debts immediately so appropriate advice can be identified before further commitments.
Questions to ask a personal bankruptcy adviser
- What alternatives should be assessed?
- What effects on assets, work or obligations need explanation?