Minimal Asset Process (MAP) Bankruptcy
The Minimal Asset Process is a streamlined route into Scottish bankruptcy for people on a low income with very few assets. It is quicker and cheaper than full sequestration and usually ends after six months.
MAP eligibility
- You live in Scotland
- Debts between £1,500 and £25,000
- Your only income is benefits, or you have been assessed as having no surplus income
- Assets worth no more than £2,000 in total (one vehicle up to £3,000 allowed)
- You do not own your home
- You have not been bankrupt in the last five years or had a MAP in the last ten
How to apply
Applications go through an approved money adviser (for example Citizens Advice Scotland or a local authority adviser), who certifies that you meet the criteria and submits the application to the Accountant in Bankruptcy. The fee is £50 and can be waived if you receive certain benefits.
What happens after a MAP
You are normally discharged after six months. Restrictions on obtaining credit over £2,000 continue for six months after discharge. The bankruptcy stays on your credit file for six years and on the Register of Insolvencies for a period afterwards.
If MAP isn't suitable
If your debts or assets exceed the limits, full sequestration may be an option. If you can afford regular payments, a Protected Trust Deed or the Debt Arrangement Scheme may be more appropriate.
Frequently asked questions
How much does MAP cost?
£50, with a waiver available if you are on qualifying benefits.
Can I apply for MAP if I work?
Only if a money adviser's assessment shows you have no surplus income after essential expenditure, using the Common Financial Tool.
Does MAP clear all debts?
Most unsecured debts are discharged. Student loans, fines, child maintenance and debts from fraud are not.
Want to know if this applies to you?
Free enquiry. No obligation. Regulated advice before any decision.