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Advantages and Benefits After Bankruptcy Monthly Living Expenses After the court issues a bankruptcy order, the trustee in bankruptcy (Official Receiver) will approve monthly living expenses based on the bankrupt individual's needs, as stipulated by law—the reasonable domestic needs of a bankrupt person and his family. During the bankruptcy period, the bankrupt individual can maintain a normal life based on this allowance. Do You Still Need to Repay Debts After Bankruptcy? After deducting necessary living expenses from the salary, any remaining income must be handed over to the trustee for debt repayment. In most cases, no further repayment is required. Therefore, bankruptcy acts like a protective order that legally shields the debtor from outstanding debts. Four-Year Bankruptcy Period Upon completion of the bankruptcy period (usually four years), the bankruptcy order will be automatically discharged. Credit cards issued by banks or financial institutions, as well as personal loans, will no longer be an issue.