I'm sure someone will along shortly with a more in depth answer but the short answer is maybe. If you are having trouble keeping up payments you need to call your IP to discuss what is going on. One month during my TD an unexpected bill would have made things difficult but when I explained this to my Trust deed provider we agreed a month 'holiday' which was then added on at the end.

Hello Cryton111 and welcome.

Is there a particular problem? They can often be resolved.

The options are:

1: The trust deed is left open and you're not discharged.

2: A trustee uses legal measures to collect your payment (from an employer for example).

3: You're discharged still owing most or all of your debts.

4: You're made bankrupt.

Once 3 payments are missed the trustee will notify your creditors and will need to decide whether to keep the trust deed open or look to discharge himself. As TDA states, sequestration is also an option.

Mark