Let’s face it, $50,000 is a huge amount of money! You could purchase a franchise, place a down payment on a new house, repay your student loans, or even travel the world! The truth is though, weddings are a celebration of two individuals who commit to devoting the rest of their lives with each other. Sure, we ‘d all love to have the wedding of our dreams, but we shouldn’t forget what’s really important.

Whilst I’ve never been married myself, I have a close circle of friends, and two of them managed to pull off the most remarkable weddings on a shoestring. Needless to say, it didn’t involve classy bridesmaid parties and catering for 400 guests, but it was unique, intimate, and almost everyone who attended had the time of their lives. If you’re about to get married on a budget and looking at ways to save money, then here’s how.

Location
There’s many ways to save thousands of dollars on your wedding location alone. One of the most stylish weddings I was invited to was in the garden of a friend’s home. Other choices you could consider is hiring a community park for the day, or maybe the beach. The environment is amazing, you can personalise your wedding to precisely how you want it, and the costs are extremely low. If you opt to have your wedding in a public place, just remember to consult the local council and make reservations well in advance.

Wedding Date
Even though lots of people prefer their weddings on a Saturday, the rates of venues are much more costly on Saturday than any other day of the week. Contemplate having your wedding on a Friday or Sunday where Monday is a public holiday. The time of year will also have a significant influence on the price of your venue. If you’re dead-set on having your reception in an indoor location, then organise your wedding date in winter and you’ll save close to a third of the costs for venue hire.

Photography
The cost of a professional photographer will usually cost roughly $4,000 for the whole day. With the remarkable specs of smartphone cameras these days, contemplate hiring a professional photographer just for the formalities and ask your friends to take pictures over the course of your wedding. You can make a hashtag on Twitter and ask your friends to post their pics, ensuring that there’ll be lots of natural pictures that resonate the true spirit of your special day.

Food & Drinks
If you really want to save money, then catering companies are your top target! They charge exorbitant prices and aren’t really necessary at all. Consider preparing your own food and drinks and don’t hesitate to go against the grain here.

You could hire a wood fire pizza truck that serves gourmet pizza, or consider hiring a professional to roast a whole pig in the ground and make the sides by yourself. For me, there’s nothing better than a pulled pork burger with scrumptious sauce and cheesy smashed potatoes! Don’t forget that most of the time, being different is far more memorable than being conventional. In addition, look for a venue that permits you to bring your own alcohol. You’ll save a stack of money this way, and you’ll be able to arrange a significant discount when buying in bulk.

Don’t Borrow Money
It’s not uncommon for couples to borrow money to pay for their weddings, not understanding how difficult it can be to pay back. Not only will you be borrowing money for the wedding itself, but also interest on top of that, which can in some cases take years to pay off. If you’ve had an extravagant wedding and found yourself in financial difficulties, always seek financial help sooner rather than later. The sooner you act, the more options will be available. For any financial assistance regarding your personal circumstances, talk with Bankruptcy Frankston on 1300 818 575, or visit our website for additional information: http://www.bankruptcy-frankston.com.au/

The majority of us have dusted off the mistakes of our 20’s and discovered a thing or two, however this decade of our lives is the time when we really should mature and genuinely think about our financial situation. We have to prioritise commitments, like our children’s education and retirement account, and take the most suitable steps to acquire a prosperous financial future for you and your loved ones. Life can definitely get more complicated in your 30’s, however by concentrating on a number of vital aspects of your finances, your money doesn’t have to be nearly as complicated.

By making slight lifestyle alterations, you can significantly boost your financial situation now and in the years to follow, so here are some personal financial goals that everyone in their 30’s should contemplate.

Grow your emergency fund
Hopefully you launched an emergency fund in 20’s, saving enough money for several months’ worth of expenditures. This is a terrific goal to accomplish in your 20’s, but earning more money and having increased financial duties in your 30’s signifies that your emergency fund becomes significantly more important. Financial experts highly recommend that people in their 30’s should have at least six to 12 months of living expenditures saved in their emergency fund. Don’t forget, moving back in with your parents is far more challenging in your 30’s, especially if you’re a parent yourself.

Examine your insurance policies
Often, people’s circumstances change dramatically in their 30’s. You may have purchased a new home, a new car, or have started a family, so it’s vital that you examine your insurance plans so they’re up-to-date. It’s likewise a clever idea to take a look at income protection and life insurance together with your existing insurance plans. Even when your personal situation hasn’t changed in your 30’s, you should nonetheless examine your insurance coverage a couple of times a year to make sure that you’re receiving the best rates and premiums.

Grow your retirement savings.
Now is the time where you should start increasing your retirement contributions, specifically if your employer features a salary sacrifice plan. Making voluntary super contributions is a wonderful way to grow your nest egg, so if you receive a pay rise, look into using the supplementary income towards your retirement savings. As well as this, if you start a new job or career, always make sure that use the same super account which will significantly minimise fees and maximise your retirement growth.

Live well below your means.
When you find yourself having more financial commitments, you should revise your budget and make sure you’re living well below your means. The key to improving your wealth is to expand the gap between what you earn and what you spend. You’ll quite likely need to decrease some expenses like eating in restaurants or cable television subscriptions, but the more money you save, the quicker you’ll accomplish your financial goals. It’s also advisable to look at percentage of income saved as opposed to dollar amounts, as this makes it much easier to determine which expenses can be minimised to ensure you’re always saving more than you earn.

Seek financial help sooner rather than later.
If you’re finding it tough to meet mortgage repayments on time or you’re falling deeper into debt, seek financial assistance as soon as possible. Commonly, the sooner you do something about it, the more choices will be available to you. Lots of folks suffer financially for several years before seeking help, and not only are they in a far worse position, but it is also completely unnecessary! There are many possibilities available for those in financial trouble, so if you need any financial help, speak to Bankruptcy Frankston on 1300 818 575, or visit our website for further information: http://www.bankruptcy-frankston.com.au/

The truth of the matter is, the sooner you start saving money and generating wealth, the better your financial scenario will be in the years to come. Regardless of whether you plan to get married, start a family, or buy a property, there are specific financial targets that every individual in their 20’s should endeavour to accomplish in order to secure a better a future. In this post, we’ll be taking a closer look at these goals and how you can start building healthy financial habits.

Put together a budget
Building healthy financial habits starts with learning how to budget. Being able to spend less money than you make is the key to saving money, so start taking control of your finances by putting together a budget and following it! With a paper and pen, write down your monthly income and costs. Inspect your expenditures to find out which can be cut down, or which can be cut out totally. Some ways to cut your expenses are opting to eat at home instead of eating in restaurants and substituting your Cable TV subscription to streaming services like Netflix instead.

Eradicate your debts
Regardless of whether you’ve travelled abroad or have student loan debts, the quicker you repay these debts, the better. Interest compounds over time, so repaying your debts by reducing expenditures or working a second job can save you thousands of dollars in only a few years. These savings can then be invested in a high-interest term deposit for instance, which will place you in a much better financial position than only making the minimal monthly repayments on your debts.

Build an emergency fund
Life seldom works out the way you planned, so it is essential to be prepared for any abrupt changes that may be necessitated. You could find yourself out of work, or in an accident that inhibits you from working, so having an emergency fund will be able to give you a bit of breathing space when you need it the most. Financial advisors strongly recommend that all individuals should have a devoted emergency fund that can support their living expenses for three to six months.

Be insured
Insurance protects you financially from any undesirable consequences, for example income insurance in the event you lose your job, medical insurance for unforeseen medical expenses, and vehicle insurance in the event that your car is stolen. While it’s not necessarily recommended to get every type of insurance available, it’s undeniably a wise idea to review your individual circumstances to see which is best suited to you. For example, medical insurance is recommended for everyone due to the high costs of uninsured medical treatment. Without insurance, an unforeseen incident may result in substantial damage to your financial situation.

Invest in a diversified portfolio
If you’ve managed to save a certain amount of money that is otherwise sitting idle in the bank, look at investing this money in a high-interest term deposit. Once you’ve got more money saved, think about buying some property, or investing in gold. The key to a good investment portfolio is ‘diversification’, meaning that you deal with the risks of investment by putting your eggs in different baskets, so to say.

Seek financial assistance as soon as possible
If, for whatever reason, you’ve found yourself in financial turmoil, the best advice is to seek financial assistance as soon as possible. Too many individuals struggle with financial problems for several years before seeking help, which puts them in a worse position as their debts will only compound over time. The sooner you get financial guidance, the more options are available to you, so if you need any support with your financial condition, speak with the professionals at Bankruptcy Frankston on 1300 818 575, or visit our website for more information: http://www.bankruptcy-frankston.com.au/

Having conducted some research, I’ve discovered there are a variety of ways in which we can all save on food expenses. Naturally, eating out at restaurants is far more costly than eating at home, but I’m talking about saving money on your weekly food bills. You’ll be shocked at just how much money you can save by adopting some helpful guidelines, so here are some useful tips that can save you thousands of dollars annually on your grocery bills.

Plan your meals and write a shopping list
Have you ever had to throw out food simply because it’s past its expiry date? I know I have! By planning each meal of the week, you can make sure that you only spend money on food that is needed. Have a look in your kitchen to see what ingredients you presently have, which ingredients you need to buy, and prepare a list of all the ingredients you’ll need for the coming week.

Many of us are guilty of impulse buying at the supermarket, so planning your meals and buying only the ingredients on your list will considerably minimise any impulse buying. Don’t forget to always keep a pen and paper in the kitchen, so when you run out of a particular ingredient, you can jot it down quickly and possibly prevent a second trip to the grocery store. And always shop for food on a full stomach!

Don’t bring your kids to the supermarket
Often it can be tricky to organise, but if you go grocery shopping when your children go to school or in the evening when there’s somebody to babysit them, you’ll save a considerable amount of money. Not only can you shop faster, but you don’t need to drain your energy by saying ‘NO’ to your kids every aisle. Usually this can become overwhelming, so many people will give in here and there, and these unneeded items will build up throughout the year far more than you’d imagine.

Shop in the evening
Speaking of shopping in the evening, you’re likely to find the best prices at this time of day. Big grocery stores will commonly discount items when they’re overstocked, and perishable goods such as bread, fruit and vegetables will also likely to be marked down. Though it may appear to be a little bit cruel after a long day, you can bag a lot of bargains by shopping in the evening.

Buy in bulk
It should come as no surprise that buying in bulk will save you money, especially on discounted items. Be cautious though, you don’t want to purchase excessively and waste food, but always remember that you can prepare meals and freeze them for a later time. Cheese, bread, and butter will last approximately three months in the freezer, and meat will typically last up to six months. Just be sure you have enough room in your freezer first!

Have a go at discounted supermarkets
Discounted grocery stores such as Aldi will always have goods that are less costly than the supermarket giants like Woolworths and Coles. On the contrary, some products will be more costly, so try finding bargains at discounted grocery stores before heading to your usual supermarket. Though you may not recognise some of the brands, the quality of the food is essentially the same. The structure is also different, so it may take a bit of getting used to, but if you want to save money on food then this is a fantastic idea.

If you’re experiencing financial challenges, always bear in mind that there are basic ways to save a considerable amount of money on one of your biggest expenditures. By making some minor changes together with a dash of self-discipline, you could potentially save thousands of dollars each year on your grocery bills.

If you discover that your financial situation is still worsening, it’s always better to seek financial advice sooner rather than later. Talk to the professionals at Bankruptcy Frankston on 1300 818 575, or visit our website for more financial advice: http://www.bankruptcy-frankston.com.au/

With the new year upon us, now is a fitting time to inspect your financial position and plan to monitor your spending habits and reduce unneeded expenses. After all, saving money means earning greater than you spend, so here are the best ways you can save money in the new year to ensure a better future for you and your family.

Review your financial circumstances
If you don’t understand your financial scenario, then there’s probably no way that you can strengthen it! Having the capacity to make prudent financial decisions starts with education and understanding where your money is being spent. Most of the time, it’s hard to keep track of our expenses, so it’s a wise idea to start keeping your receipts and reviewing your expenses each week to gain a better understanding of your spending habits. This is the most important step in being able to save money. Now, let’s unveil some specific money saving strategies.

Groceries
Saving money on groceries is a lot easier than you would believe. The trick is to plan your meals a week in advance before you go to the supermarket. Once you’ve planned your meals and the appropriate ingredients, prepare a list and stick to it! Don’t go grocery shopping starving either, that’s a sure way to spend needless money impulsively. It’s also a great idea to have a paper and pen in the kitchen area, so when you run out of a certain ingredient, you won’t have to make a second trip to the grocery store in case you forget.

Electricity
Electricity is another easy way in which you can cut expenses by making some trivial changes. The most beneficial way to save electricity is by turning off appliances at the power point when they’re not being utilised. Even though the devices aren’t being used, an active electricity socket still uses electricity, and these expenses can really aggregate with time. Other ways to reduce electricity is to use fans instead of air conditioners, switching off lights that aren’t being used, using hot water bottles rather than electric blankets, and using a clothes line rather than a dryer.

Entertainment
All of us need to let off some steam after a hard day’s work, so a glass of wine and some cable TV does the trick for most people. However, cable television is a hefty expense that is almost never used to its full potential. Look at switching to streaming services like Netflix or Hulu which charge roughly $10 a month instead of the average $70 a month for cable television. That’s a saving of over $700 a year alone. Additionally, instead of dining in a restaurant with friends once a month, opt for hosting a dinner night where everyone brings a dish and their beverage of choice. You can rotate hosts, save heaps of money, and never have to be concerned about being too noisy!

Invest your savings
While the above recommendations are far from extensive, saving money by making small changes gives you more financial possibilities to improve your life. You could use these savings to indulge in a family holiday once a year, or you may prefer to invest your savings in a diversified investment portfolio. Whichever you chose, the fact of the matter is that we can all make small sacrifices to save money which can be used to enhance our lives.

Dealing with Debt?
If you’ve found yourself in a position where you’re repeatedly dealing with debt and can’t see any way out, there are a few options available for you. You don’t have to live your life in fear and stress, and the faster you act to rectify your predicament, the more possibilities will be available for you. If you require professional advice on any financial hardships that you’re currently facing, don’t wait any longer. Get in contact with the specialists at Bankruptcy Frankston on 1300 818 575, or visit our website for more information: http://www.bankruptcy-frankston.com.au/

If you’ve determined that you want to improve your financial health in 2018, there’s a fair amount of preparation and planning involved. To create significant financial improvements in your life, it’s essential that you address only the things you can control and to examine your progression frequently. To give you some ideas on effective ways to do this, the following outlines some recommendations that you should follow if you wish to improve your financial well-being in the following year.

Set clear financial goals
Research have shown that merely writing down goals greatly increases the probability of you accomplishing them. In a financial sense, writing down precise goals with an anticipated timeline not only increases the likelihood of you achieving these goals, but you’ll likewise understand what is most important to you.

Several financial goals, such as retirement, may necessitate the services of a financial planner, but there are many simple, obtainable goals that you can plan by yourself, like purchasing a car, saving for a home deposit, or building an emergency fund for a rainy day. It is crucial that you take small steps to achieve these goals, and assessing your progress on a regular basis is the key to success.

Increase your savings
Most people have no idea how much money they save every year, so it is vital that you set an actual dollar amount that you wish to save for the forthcoming year. Regardless of whether you accomplish this goal or not isn’t the issue, the fact that you’re setting specific goals and planning ways to accomplish these goals is the most important aspect.

Simple ways to increase your savings account is to increase your superannuation payments (and possibly Government payments), or established an automatic deposit into an emergency fund or high interest savings account each week. In any case, increasing your savings will increase your net worth and general financial health.

Track your spending
Understanding just how much you spend every month is essential in having the capacity to increase your financial health. Keeping every bill and receipt and manually generating a spreadsheet is one way to do it, but there are a couple of terrific apps that monitor your spending on the go, providing you with an accurate indication of how much you’re spending with minimal effort required.

ASIC’s TrackMySPEND app (https://www.moneysmart.gov.au) is a trustworthy and dependable tool that helps you realise your typical monthly and annual spending, so you can better plan and accomplish your financial goals. If this doesn’t satisfy you, there are a number of other apps available, so don’t be afraid to test a few to find which is best for you.

Assess your mortgage and insurance policies
Revising your mortgage and insurance policies is a practical way to increase your savings. For example, you should be evaluating how your current home loan and insurance policies measure up to other providers on an annual basis. Banks and financial institutions modify their policy structures regularly, so chances are you can acquire a better deal if you do a bit of homework.

Even small decreases in interest rates can save you thousands of dollars each year, so it’s certainly worth the effort! If you find a better package elsewhere, don’t be afraid to ask your current provider to match it, and at the same time, don’t be afraid to switch providers if they don’t. There’s plenty of online resources which can thoroughly guide you through this process.

Seek advice as soon as possible if you’re experiencing financial trouble
Improving your financial health doesn’t always translate to increasing your savings and emergency funds. Many people suffer through years of stress from financial hardship without understanding that there are a number of options available to them to boost their financial wellbeing.

If you’re encountering any financial distress, the sooner you seek professional advice, the better your recovery options will be. For any advice pertaining to your financial circumstances, don’t hesitate to get in contact with Bankruptcy Frankston on 1300 818 575, or visit our website for more information: http://www.bankruptcy-frankston.com.au/

For the last three years, you’ve had no debts to pay off so your credit history has nothing to show except for a bankruptcy mark next to your name. There’s been no activity on your credit report, so an empty page will make lenders reluctant in lending money to you only because they can’t assess your repayment habits. Rebuilding your credit history is the best way to get your finances back on course, and make your recovery process as smooth as possible.

How to repair your credit report after discharge?
Due to the fact that lending institutions haven’t been able to inspect your financial management skills for the past three years, you need to start demonstrating healthy financial habits. Here’s a list of ways in which you can do this

1. Reliable employment
Attaining reliable and ongoing employment is an excellent way to improve your financial security and display to banks and financial institutions that you have a regular source of income. Stable employment will allow you to increase your savings and strengthen your overall financial circumstances, leading to a better credit rating.

2. Increase your savings balance
Your savings account is an asset, so increasing your savings balance over time will demonstrate to loan providers that you are financially responsible and are capable of making loan repayments. By putting money into a dedicated savings account each month, even a small amount, will improve your credit history.

3. Limit your credit applications
Every time you apply for a line of credit, it is registered on your credit report, so lots of credit applications can negatively affect your credit history. After being discharged, it’s important that you are realistic and vigilant about the kinds of credit you apply for to increase the likelihood of approval. It’s best to make an application for a single line of credit at once, and always remember that secured loans and options with a guarantor or joint accounts will increase the chances of approval.

4. Contemplate a term deposit
If you’ve been able to save money throughout your bankruptcy period, think about putting part of it into a term deposit account. Not only will you accumulate interest and boost your overall financial situation, it will also show lending institutions that you are financially responsible. Consequently, the likelihood of securing a loan will be increased which leads to an improved credit rating.

5. Always make repayments on time
One of the most important things you can do as a discharged bankrupt is to make any kind of repayment on time. Regardless of whether it’s your rent, electricity, or even a secured loan in your name, making these repayments on time will certainly improve your credit history and increase the confidence that financial institutions have in your financial management skills.

6. Don’t be afraid to speak to lenders
If you intend to make an application for a line of credit after your bankruptcy period, or discover what types of options are available to you, don’t be reluctant to talk with lenders or other financial institutions to review your circumstances. They are in the best position to advise of your eligibility, and provide information on what options would work best for your personal circumstances.

Be mindful of credit repair companies
There are a number of credit repair companies that will make all sorts of promises to improve your credit record. While many of them are effective in challenging any incorrect listings on your credit record, they may not be able to do anything else to improve your credit record. The Government’s MoneySmart website (https://www.moneysmart.gov.au/) advises discharged bankrupts to be “very careful” of these agencies due to the fact that they “may not always be able to do what they claim they can”.

If you need any guidance in repairing your credit history, or have any inquiries relating to your recovery process after bankruptcy, it’s always best to seek advice from qualified professionals. Reach out to Bankruptcy Frankston on 1300 818 575, or alternatively you can visit our website for more information: http://www.bankruptcy-frankston.com.au/

Although some people have the financial ability to pamper their families with high-end gifts and lavish functions, many of us need to be watchful to spend within our means so our Christmas joy can smoothly sail into the New Year. So with this being said, I want to share with you some practical ways of celebrating Christmas, without breaking the bank.

1. Set a Budget

Whilst it may sound cliché, it’s vital that you create a budget and stick to it. Compose a list of all the presents you’ll be giving and calculate the total amount. The majority of the time, it will be a lot more than you pictured. Use this as motivation to think outside the box (pardon the pun!) and make some adjustments so you can stick to your budget. You could have a yard sale and sell goods that aren’t being used anymore, talk with family and friends about a setting price limit for gifts, or perhaps contemplate making gifts yourself! ASIC has launched a terrific app to control your Christmas spending called TrackMySPEND (https://www.moneysmart.gov.au/) which I’m certain many of you would find valuable.

2. Shop Online

Even though lots of people find pleasure in strolling through department stores and basking in the radiant Christmas displays, almost all the same items are offered on the net at much cheaper prices. Utilise comparative shopping websites like Google Shopping, PriceGrabber, or Nextag to find what you’re searching for. These websites are extremely competitive and will usually have discounts that can save you a bunch. Despite the fact that shopping online will save you money, you need to take extra precaution to ensure you get what you paid for.

3. Rethink your Christmas Cards

If you’re one of the many people who send Christmas cards to all your friends and family, you’ll have an idea that the costs of this exercise can be rather expensive. It’s no surprise that only few of your friends and family will actually keep these cards so it’s ultimately just money down the drain. As an alternative, why not send a family Christmas video message online? There are numerous apps on smart phones and tablets that enable you to send fun and entertaining Christmas videos that can be sent out electronically at no charge at all. Then again, you can always create your own Christmas cards with personalised messages and have your little ones draw pictures to make them super special!

4. Wrapping Paper

An artistically wrapped present can make a remarkable difference, even with the cheapest of gifts. Christmas paper can be fairly costly, so look into purchasing plain brown paper and adding a festive ribbon from a craft shop which will look a lot better than Christmas paper. You can even re-use brown paper bags that are often given at clothing stores. Conversely, consider buying plain red, gold, or green paper which can also be used as birthday presents throughout the year. Remember, many department stores will wrap your gift for free, so don’t be afraid to ask!

As you can see, Christmas festivities doesn’t need to break the bank. Regrettably, however, many people spend beyond their means and find themselves in financial turmoil in the New Year. If you find yourself in this position, it’s better to seek professional advice sooner rather than later. There are many solutions available to you; all you need is the right advice. For any direction on financial difficulties, get in touch with the specialists at Bankruptcy Frankston by calling 1300 818 575, or alternatively visit our website for more information: http://www.bankruptcy-frankston.com.au/

Finding the ideal financial help in Frankston with bankruptcy is a great deal like that small boy’s journey, packed with risk and danger, and usually skewed for the benefit of the person offering the advice. For the most part you’ll get bitten unless you understand what you’ve picked up long before you begin (keep away from the rattlesnakes). I learned the complication with getting financial advice as a teenager, and it has certainly been essential to bankruptcy. I ‘d been working hard for a few years, and saved up a modest amount of money I wanted to invest. It was the early 1980s so interest rates were generally fairly high and investing your money was quite lucrative. I spent a few years looking into various investment options, and I went to visit a few financial advisors. It was clear that they had more money than I did: they had nice suits and elegant offices, they all seemed to emanate confidence and have all the solutions. What hit me was that they all had a really different idea of exactly what I should do. This puzzled me so much that it put me off the whole idea of going with any of them.

I’m sure that you have learnt more than enough online to be totally puzzled about bankruptcy and just exactly what to do. It would most likely be much easier for me to help you take in the nature of the financial snakes you might be taking hold of while you are aiming to get to the bottom of your financial troubles in Frankston. Generally, you have to try and determine what your overarching choices are, do your very own investigation into where to press on with your strategy for bankruptcy, then afterwards approach what you feel is best in Frankston for your needs. In a nutshell, you have 3 options for who to turn to.

The first choice is a Solicitor– This may appear like the best prospect when you appear to be in trouble. But undoubtedly there is only just so much help they can provide on this issue. There are definitely specialist legal advisors in bankruptcy, but their experience comes along with a hefty price.

Another possibility you may consider is your accountant– they are extremely helpful and vital to the program of managing your business, but for the most part, when you are thinking about bankruptcy, your accountant won’t be very much help to you any more.

Your best option? A Financial Counsellor that can detail debt consolidation, personal insolvency agreements, and all you need to know when it involves bankruptcy

If you would like to figure out more about what to do, where to turn and what issues to ask about bankruptcy, then feel free to talk to Bankruptcy Frankston on 1300 818 575, or visit our website: www.bankruptcy-frankston.com.au.

When it involves bankruptcy and employment in Frankston, what I would say is that you do your very own investigation here, do the research and go through that process to start with before declaring bankruptcy – considering that this may help you decide. Look at if your job is on the list in this article. If it is, I ‘d get in touch with them directly and clear up your situation. Some affiliations 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, in many cases you won’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 suggest you seek some qualified advice. This may be one of those uncommon times when I ‘d endorse using a Debt Agreement or a Personal Insolvency Agreement.

Remember in many cases you don’t have 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 useful: if you’re an electrician as an example, there is nothing stopping you working with another electrician in Frankston under their Licence.

Please check out the table below, it deals with the license and company aspect 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 stress if you run your 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 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 business as a sole trader. There are no limitations: you can hire staff and turn over any volume of money. Commonly 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 skilled 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 contact with Bankruptcy Frankston on 1300 818 575, or go to our website: www.bankruptcy-frankston.com.au.