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Debtor Guide - Bankruptcy

This guide provides general advice on bankruptcy for people who have been made bankrupt

What if my circumstances change?

It is important to advise your trustee immediately of any changes i.e. change of address, contact details, income and expenditure.  If you do not contact them, or they cannot contact you, they will assume you are not co-operating and may request your discharge is not granted.

If there have been any significant changes to your income or expenditure, your trustee will re-calculate your Debtor Contribution Order (DCO). Your contribution will then be amended and will run for the remainder of the period.

Every six months, until your DCO ends, your trustee will send you a questionnaire to review your financial circumstances. This form is called a Current State of Affairs. You must complete and return this.

You are allowed to ask for a payment break of up to six months, however, the DCO end date will change for all required payments to be met. You can only apply for one payment break within the 48 month period of the DCO.

You will only be granted a payment break in the following circumstances:

  • there has been a reduction of at least 50% in your disposable income
  • you have not previously applied for a payment break

If you are unhappy about your DCO you can request a review to be carried out by AiB.

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