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- October 3, 2016
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Essentially everyone dealing with Bankruptcy in Gladstone has this uncertainty 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 an issue of professional bodies or organizations that view bankruptcy in a dim light and can keep it complicated for you.
When it involves Bankruptcy and employment in Gladstone, what I would say is that you do your own leg work here, do the research and check that process to start with before declaring bankruptcy – considering that this may help you make a decision. Check to see if your job is on the list listed here. If it is, I ‘d speak to them directly and clarify your situation. Some affiliations won’t have an issue with your bankruptcy provided that it wasn’t accompanied by shifty or questionable behaviour.
If you are affected by this area of Bankruptcy and licences, in many cases you wouldn’t lose your Licence permanently; it just gets suspended for the 3 years of your bankruptcy. If your career happens to be on the checklist and you’ve talked to them but they won’t budge, then I ‘d recommend you seek some qualified advice. This may be just one of those unusual occasions when I ‘d endorse using a Debt Agreement or a Personal Insolvency Agreement.
Remember in most cases you don’t need to exit 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 useful: if you’re an electrician as an example, there is nothing stopping you partnering with another electrician in Gladstone under their Licence.
Please check out the table below, it deals with the license and company part 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 fret if you run your very own company. Just one of the limitations of bankruptcy is you can’t be a director of a business, but all this actually means is that you must restructure your business.
Simply for your peace of mind I’ll tell you now that you can 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. Typically people who run their own business have debts that are business related and it can become truly complicated, so it’s best to obtain some skilled advice as opposed to going it alone.
If you would like to learn more about what to do, where to turn and what questions to ask about Bankruptcy, then feel free to get in contact with Bankruptcy Experts Gladstone on 1300 795 575, or check out our website: www.bankruptcyexpertsgladstone.com.au.