Bankruptcy in Joondalup – Am I going to lose my job if I go bankrupt?
For the most part everyone coping with Bankruptcy in Joondalup has this particular worry 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 institutions that view bankruptcy in a dim light and can make it difficult for you.
When it involves Bankruptcy and employment in Joondalup, what I would recommend is that you do your own leg work here, do the research and look at that process to start with before declaring bankruptcy – considering that this may help you decide. Look at if your job is on the list listed here. If it is, I ‘d talk to them directly and clarify your situation. Some associations won’t have a problem with your bankruptcy just as long as it wasn’t accompanied by scandalous or questionable behaviour.
If you are affected by this area of Bankruptcy and licences, in many cases you will likely not 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 gotten in touch with them but they won’t be convinced, then I ‘d suggest you seek some qualified advice. This may be one of those unusual occasions when I ‘d endorse using a Debt Agreement or a Personal Insolvency Agreement.
Remember in many cases you don’t need to leave the industry you are employed in; you just need to work under another’s Licence for a while. In the building sector this is especially important: if you’re an electrician as an example, there is nothing stopping you working with another electrician in Joondalup 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 notice that there’s a listing called “Operating a business.” Please don’t worry 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 in fact 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 extremely complicated, so it’s best to obtain some skilled advice rather than going it alone.
If you need 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 Joondalup on 1300 795 575, or go to our website: www.bankruptcyexpertsjoondalup.com.au.