The minimal asset process (MAP) is a way of applying for bankruptcy which is aimed at people on a low income with very few or no assets. It’s a means of writing off debt that you would struggle to repay within a reasonable time.
The MAP bankruptcy is not available if you live in England, Wales or Northern Ireland. In these countries, a debt relief order (DRO) is a similar solution, but it’s important to note that it has different benefits, risks and fees associated with it.
Can I apply for MAP?
To apply for MAP bankruptcy you must meet the following conditions:
- You must live in Scotland, or have lived in Scotland in the last 12 months
- Your debts are more than £1,500 but less than £17,000
- Your car is worth £3,000 or less
- Your other assets are worth less than £2,000 in total, with no single item worth more than £1,000
- You’re not a homeowner
- You haven’t gone through sequestration, which is bankruptcy in Scotland, in the last five years
When it comes to your income, there are two ways you can qualify:
- Your income is made up solely of income-related benefits such as jobseekers allowance (JSA)
- There’s no money left over from your total earned income once all your essential living costs are paid
The MAP application process
You must pay a fee of £90 to apply for MAP bankruptcy. There are no exemptions or reductions available. You’ll also need to get advice from an approved money advice organisation such as us. You won’t be able to apply without doing this first.
We can help you understand if MAP bankruptcy is the best option for you. If it is, we’ll ask you to send us details of your income and debts. We’ll check all your paperwork and provide all the support you need.
You should be aware that with MAP bankruptcy your details will be added to a public register, called the Register of Insolvencies (ROI), for a period of five years.