Simply speaking everyone managing Bankruptcy in Dandenong has this particular worry about their job, and the answer to the question is ‘maybe’. The issue with some professions isn’t that you cannot do the job any longer, it’s more a concern of professional bodies or institutions that view bankruptcy in a dim light and can keep it complicated for you.
When it involves Bankruptcy and employment in Dandenong, what I would recommend is that you do your very own investigation here, do the research and go through that process first before declaring bankruptcy – considering that this may help you decide. Check to see if your job is on the list shown below. If it is, I ‘d get in touch with them directly and straighten out your situation. Some affiliations won’t have an issue with your bankruptcy just as long as it wasn’t accompanied by dishonest or questionable behaviour.
If you are impacted by this area of Bankruptcy and licences, in most cases you will not 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 suggest you seek some qualified advice. This may be just 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 working in; you just have to work under another’s Licence temporarily. In the building sector this is especially useful: if you’re an electrician as an example, there is nothing stopping you teaming up with another electrician in Dandenong under their Licence.
Please look at the table below, it deals with the license and company aspect of Bankruptcy. It’s prepared on a state by state premise, and you’ll notice that there’s a listing called “Operating a business.” Please don’t worry if you run your own company. Just 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 amount of money. Generally people who run their own business have debts that are business related and it can come to be truly complicated, so it’s best to get some skilled advice rather than 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 touch with Bankruptcy Experts Dandenong on 1300 795 575, or go to our website: www.bankruptcyexpertsdandenong.com.au.