fatal leak? maybe not, here is how i repaired mine http://www.airforums.com/forum...ead.php?t=5206
your trailer may require cutting an access hole in the belly pan (unless you already have one). the trick is where. i belive your trailer has a internal drain valve, so looking in from above may give a clue where to cut a hole. mine came from the factory with a access hole. my leak was due to a cracked fitting and a disintergrated 1 1/2" main drain plug.
once you get at it, the repair may be easy as mine was.