Minimal Asset Process (MAP) Bankruptcy

MAP bankruptcy is a way to write off debts you can’t afford only in Scotland.

A minimal asset process (MAP) bankruptcy gives you a fresh start by writing off debts that you can't repay within a reasonable time.

It’s aimed at people with a low income and not many assets, and is cheaper and more straightforward than sequestration bankruptcy. You can only apply for MAP through an approved money advice organisation, like us.

Benefits of MAP

  • Although MAP bankruptcy is a formal legal process, you won’t need to appear in court
  • MAP bankruptcy costs £90 to apply for, which is cheaper than sequestration. This fee is payable to the Accountant in Bankruptcy
  • You’ll usually be discharged from your MAP bankruptcy after six months, after which most debts will be legally written off
  • Once your MAP bankruptcy is approved your creditors can’t chase you for payment or add more interest and charges to your debts, and they can’t take any court action
  • Most unsecured debts are included in MAP bankruptcy

Risks of MAP

  • Your credit rating will be affected for six years from the day your MAP bankruptcy begins
  • Your bank is likely to close or freeze your accounts and you may only be able to get a basic bank account
  • Bankruptcy can impact some jobs, or lead to dismissal
  • Some private landlords may evict tenants or not renew a tenancy agreement if you become bankrupt
  • Some debts, such as student loans, on-going child maintenance and court fines are not included
  • If you’re self-employed, bankruptcy could make it harder to trade and obtain credit for goods and services