Ultimately everyone managing Bankruptcy in Rockhampton has this particular worry about their job, and the answer to the question is ‘maybe’. The trouble with some lines of work isn’t that you cannot do the job any longer, it’s more an issue of professional bodies or organizations that view bankruptcy in a dim light and can keep it difficult for you.
When it involves Bankruptcy and employment in Rockhampton, what I would recommend is that you do your own due diligence here, do the research and go through that process first before declaring bankruptcy – considering that this may really help you decide. Look at if your job is on the list listed here. If it is, I ‘d talk to them directly and clear up your situation. Some associations won’t have an issue with your bankruptcy just as long as it wasn’t accompanied by shifty or questionable behaviour.
If you are affected by this area of Bankruptcy and licences, often you will not lose your Licence permanently; it just gets suspended for the 3 years of your bankruptcy. If your profession happens to be on the checklist and you’ve gotten in touch with them but they won’t budge, then I ‘d recommend you seek some qualified advice. This may be just one of those unique times 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 working 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 for example, there is nothing stopping you teaming up with another electrician in Rockhampton under their Licence.
Please look at the table below, it deals with the license and company part of Bankruptcy. It’s arranged on a state by state premise, and you’ll notice that there’s a listing called “Operating a business.” Please don’t stress if you run your very own company. Just one of the limitations of bankruptcy is you can’t be a director of a company, but all this really means is that you will have 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 amount of money. Usually people who run their own business have debts that are business related and it can come to be quite complicated, so it’s best to obtain some experienced advice instead of 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 Rockhampton on 1300 795 575, or check out our website: www.bankruptcyexpertsrockhampton.com.au.