• I am officially bankrupt, what should I do?

    People who have been declared officially bankrupt are freed from most types of debt and are usually kept in a state of bankruptcy for three years and one day (i.e. undischarged bankruptcy).

    While you’re in a state of bankruptcy, you must give your trustee details of your debts, income and assets. You may also be hit with contributions liability (or compulsory payments) if your income exceeds a certain official threshold.

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