If you are declared bankrupt and have a job, you must make a monthly contribution paid into the bankruptcy estate.
At the point of bankruptcy, the Official Assignee will have decided upon a target contribution. This figure is set apart from assets which have been sold and the proceeds paid into the bankruptcy estate. If the target contribution is paid off, you can be discharged from bankruptcy, provided three years have passed since you were declared bankrupt, and you are a first-time bankrupt. Even if you fail to pay off the target contribution, it’s still possible to have the bankruptcy discharged after seven years.