Generally everyone dealing with Bankruptcy in Hervey Bay has this particular fear about their job, and the answer to the question is ‘maybe’. The trouble with some jobs isn’t that you cannot do the job any longer, it’s more a concern of professional bodies or organizations that view bankruptcy in a dim light and can make it difficult for you.
When it involves Bankruptcy and employment in Hervey Bay, what I would advise is that you do your very own prep work here, do the research and check that process first before declaring bankruptcy – considering that this may really help you make a decision. Look at if your job is on the list in this article. If it is, I ‘d speak with them directly and shed light on your situation. Some affiliations won’t have an issue with your bankruptcy just as long as it wasn’t accompanied by unethical or questionable behaviour.
If you are affected by this area of Bankruptcy and licences, in most cases you won’t lose your Licence permanently; it just gets suspended for the 3 years of your bankruptcy. If your occupation happens to be on the checklist and you’ve consulted with them but they won’t budge, then I ‘d recommend you seek some qualified advice. This may be one of those rare occasions when I ‘d endorse using a Debt Agreement or a Personal Insolvency Agreement.
Remember in most cases you don’t have to leave the industry you are employed in; you just have to work under another’s Licence for a time. In the building sector this is especially relevant: if you’re an electrician as an example, there is nothing stopping you collaborating with another electrician in Hervey Bay under their Licence.
Please look at the table below, it deals with the license and company side of Bankruptcy. It’s organized on a state by state premise, and you’ll realize that there’s a listing called “Operating a business.” Please don’t worry if you run your own company. One of the limitations of bankruptcy is you can’t be a director of a business, but all this really means is that you need to restructure your business.
Simply for your peace of mind I’ll tell you now that you will be able to still own and run this company as a sole trader. There are no limitations: you can hire staff and turn over any level of money. Generally people who run their personal business have debts that are business related and it can come to be truly complicated, so it’s best to obtain some experienced advice as opposed to going it alone.
If you wish to learn more about what to do, where to turn and what questions to ask about Bankruptcy, then feel free to get in touch with Bankruptcy Experts Hervey Bay on 1300 795 575, or check out our website: www.bankruptcyexpertsherveybay.com.au.