Minimal Asset Process (MAP)
Minimal Asset Process (MAP) is a debt solution that is available in Scotland and is the Scottish form of Bankruptcy. This is a formal arrangement and is a form of insolvency designed to deal with debts that you are unable to repay with within a reasonable period of time.

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Minimal Asset Process (MAP)
Minimal Asset Process (MAP) is a debt solution that is available in Scotland and is a type of Bankruptcy. for individuals with low income and little to no assets. This is a formal arrangement and is a form of insolvency designed to deal with debts that you are unable to repay with within a reasonable period of time.
Criteria
- Be residing in Scotland within the last year.
- Debts less than £25,000.
- Have a vehicle worth less than £3,000.
- Have assets worth less than £2,000 in total (with no single item worth more than £1,000).
- Not have been made bankrupt in the past 5 years.
- Your income is from income related benefits only or you have no disposable income after paying your essential living costs.
- You must be able to afford the application fee of £50.
Benefits
- Your creditors are no longer able to pursue you for payment.
- You will no longer need to deal with your creditors; instead the insolvency company would do this on your behalf.
- If you co-operate, you may be discharged after 6 months.
- You will not be required to make any payments towards your debts
- Once awarded you are protected from creditor action and after discharge the debts included in the MAP will be written off.
Disadvantages
- Your credit rating will be adversely affected, making it harder to obtain credit in the future.
- Any assets you have may be sold to repay your debts.
- If your circumstances change or it is found that you do not meet the criteria for a MAP, your case will be transferred to full Sequestration and you will not be automatically discharged after 6 months.
- You will be restricted from obtaining credit for 6 months following discharge.
- You will be required to pay an application fee of £50

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JT Maxwell Limited, Unit 1, Lagan House, 1 Sackville Street, Lisburn, BT27 4AB.
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F.A.Q.
How long does negative information remain on a credit report?
Most negative information (like late payments) remains on your credit report for six years. Some information remains longer.
A lawsuit or unpaid judgment against you stays on your report until the statute of limitations runs out or for seven years, whichever period is longer.
A bankruptcy filing stays on the report for 6 years, and a criminal conviction may stay there permanently.
Why would my creditors accept an IVA?
In accepting an IVA, your creditors will expect to get a better return than they would from any other reasonable alternative, and your payment proposals will demonstrate this to be the case. Your creditors will also benefit from knowing your IVA will be managed, monitored and supported by your Supervisor during the term of your IVA.
What to do if you’ve been made redundant and in debt
No matter your situation, if you are struggling to make repayments or find yourself in problem debt and are at risk of redundancy then it can be very scary.
When you contact us, one of our specialists will go through the money that you have coming in and going out (household budget) and then prioritise what you need to pay for. Based on how much money you have leftover each month, and whether you think your circumstances are likely to change, there will be a number of options available to you. Our Specialist will talk to you about each of the available debt options in detail, and how each option will affect your own personal circumstances which will help you decide which is right option for you.
Can I protect my house?
An IVA will protect your home and prevents creditors from taking any legal action against you and your property. You do not have to sell your home in an IVA.

About Us
Our aim here at JT Maxwell is to help change the perception of our industry. And the reason for this is simple: we passionately believe that the service which we provide is incredibly valuable, not just for businesses, but also in a personal context.
Address
JT Maxwell Limited, Unit 1 Lagan House, 1 Sackville Street, Lisburn, BT27 4AB.