Hello mccannrfc.

What's caused you to miss these three payments?

In the scenario you describe the trustee would take their fee from the funds contributed and any remainder would be shared around your creditors.

Hi mccannrfc and welcome to the forum,

It's unusual for a Trustee to ÔÇ£failÔÇØ a Trust Deed on the basis that 3 payments have been missed.

I would request that they set out in writing the reasons why they feel your Trust Deed has failed especially when you are almost at the end.

In a scenario where a Trust Deed fails, normally this is down to persistent non-payment or non co-operation and as a result the Trustee will have had to carry out additional work which means increased costs. It can often be the case that there aren't actually and funds left over after the Trustee takes their fee. If a Sequestration petition is presented to court to declare someone bankrupt for failing to co-operate then any funds that the client has paid in will also be used to cover these legal costs. No funds are therefore passed back to the client.

Hi mccannrfc

You posted previously about settling early. Is this option still available?

Mark