Self Employment & Bankruptcy


Will I Lose My
Small Business

If I go Bankrupt?

With the appropriate advice, you may not have to lose your business. Company insolvency laws are complicated in Queensland, and you need to tread very carefully around this to continue to be self-employed. Of course, you can no longer be a Director of a Pty Ltd company after you declare yourself bankrupt. However, this does not mean that you cannot still manage a business and engage people as a sole trader.

If you are self-employed or a director of a company getting the right advice is essential. There can be extremely significant repercussions for self-employed people who file for bankruptcy so get some professional advice. At Bankruptcy Experts Cassowary Coast we offer a totally free consultation so give us a call on 1300 795 575 for more info.


What If I Have Both Business and Personal Debts?

If you have a mix of personal and business debts when you declare bankruptcy, you might have the chance to have most, if not all, of it wiped. This is a complicated procedure, but it is possible. Personal insolvency does not automatically imply business bankruptcy as well. Whether you are in business as a Sole Trader, Partnership, Company, or Trust, at Bankruptcy Experts Cassowary Coast we can assist you through all of your options. Call us for an obligation free chat on 1300 795 575.

What if I have Both Business and Personal Debts

Should I Put My Company Into Liquidation?

If you choose to liquidate your business you might not need to go bankrupt, another possibility is voluntary administration. As with all these matters, get some expert advice first, call us at Bankruptcy Experts Cassowary Coast on 1300 795 575 and go through the options available to you. There is far more to this story so go to the Liquidation Section of this website to find out more on how company liquidations can impact you.


Big 5 Questions

– Is Going Bankrupt Right for me?
– Will I lose my job?
– How will my income be affected?
– Can I keep my house or car?
– Will I lose my business or can I still be self-employed?

If you are considering bankruptcy, being able to answer these questions is vital. Then you’ll know exactly what will happen to your business and assets should you choose to file for bankruptcy. Feel free to download our eBook for free and inform yourself today. Or, if your questions are more complex, call us directly on 1300 795 575.

bankruptcy expert ebook

Get your FREE copy of the Big 5

15 + 7 =

* We promise not to bombard you with emails and phone calls when you sign up for our free e-book. In fact, we promise to only call you once to see if we can help you further and that’s it.

We offer a No Obligation Free Consultation in over 40 locations throughout Australia, Brisbane, Canberra, Sydney, Melbourne, Gold Coast, Adelaide, Perth, Darwin, Hobart, Sunshine Coast, Newcastle and Geelong. Feel free to download our e-Book now.

What Impact Will Bankruptcy Have on my Business?

The impact on your business could be substantial or only a minor issue depending on your circumstances. In Queensland while you are bankrupt, you can operate or run a business as a Sole Trader although there are some conditions. There are a few things to think about before taking this route, like some professional licences that might become invalid during bankruptcy. For example, a builder might have their Builder’s Licence suspended for the 3 years they are bankrupt, as this licence is essential for a builder to have, the significance of losing it is enormous.

Call 1300 795 575 and let Bankruptcy Experts Cassowary Coast give you more information so that you can make the very best decision.


Isn’t It Illegal to Run a Similar Business after Bankruptcy?

Is it illegal to run a similar business after bankruptcy? It definitely can be. It is illegal to establish a Phoenix Company that rises up out of the ashes of an old one and Qld has laws in place to prevent this from happening. You cannot run up thousands in debt, go bankrupt, then open up the doors again the next morning as if absolutely nothing had happened. This scenario, just like many concerning bankruptcy, is not as straightforward as it might seem. It is always a good plan to talk with the specialists first so call Bankruptcy Experts Cassowary Coast today on 1300 795 575.