Welcome to the forum Phil_hill55.

The short answer is, only if your trustee releases you from your trust deed first.

Why are you thinking about a change?

Hi thank you for the reply I was just concerned that if circumstances change then I may have to look at that option

Speak to your trustee if your circumstances change.

Bankruptcy may well not be the only option - it all depends upon circumstances.

does your IP have an obligation to realise you if you wish to declare yourself bankrupt, i asked and was i was told that if i did not pay my monthly payments then my wages would be arrested, my IP wants my payments to go from £153 pm to £320 pm i cannot afford this and is not what i signed up for

There's no obligation to release you staigster.

As mentioned on the other thread you just started, the trust deed payment is variable according to changes in your circumstances. The payment you started with can reduce or increase in line with your financial affairs.

The starting point for a trustee here is that everyone became legally bound by the trust deed when it was set-up. They'd need to see that it was in the best interests of their customer and their creditors before enabling a change.

well it appears , from my stand point that the interests of the customers seem to outweigh my interests and my ability to pay the amount required... it would appear that i have no option but to pay this dragonian charge

You are likely to pay the same amount anyway if you go bankrupt instead, staigster - it is worked out using the same kind of analysis of your income and outgoings.

Has your financial situation changed for the better since the £153pm payments were originally set up? What is your trustee basing the increase on?

Sorry - just saw your other thread which elaborates further. Probably best to stick with that thread for further discussions on your circumstances.