For the most part everyone managing Bankruptcy in Albury has this distress about their job, and the answer to the question is ‘maybe’. The issue with some occupations 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 Albury, what I would recommend is that you do your own homework here, do the research and look at that process to start with before declaring bankruptcy – considering that this may help you make a decision. Take a look at if your job is on the list below. If it is, I ‘d consult with them directly and shed light on 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 impacted by this area of Bankruptcy and licences, in most cases you wouldn’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 talked to them but they won’t budge, then I ‘d recommend you seek some qualified advice. This may be 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 need to leave the industry you are working in; you just need to work under another’s Licence for a time. 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 Albury under their Licence.
Please check out the table below, it deals with the license and company part of Bankruptcy. It’s prepared 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 volume of money. Usually people who run their own business have debts that are business related and it can become quite complicated, so it’s best to get some experienced advice as opposed to 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 touch with Bankruptcy Experts Albury on 1300 795 575, or check out our website: www.bankruptcyexpertsalbury.com.au.