MAP (Minimal Asset Process) meaning

A streamlined route into Scottish bankruptcy (sequestration) for individuals with low income and minimal assets. It is a statutory process under the Bankruptcy (Scotland) Act 2016 and associated regulations, administered by the Accountant in Bankruptcy. MAP is used where bankruptcy is appropriate but the estate has negligible realisable value. Key eligibility features include: unsecured debts typically between £1,500 and £25,000; total assets not exceeding £2,000, with no single asset worth more than £1,000; no ownership of heritable property; and either receipt of prescribed benefits for the previous six months or no surplus income as assessed under the common financial tool. Certain excluded debts are disregarded for eligibility. A recent prior sequestration (generally within 10 years) and a current Debt Payment Programme under the Debt Arrangement Scheme usually bar entry. Applications are made via an approved money adviser. Discharge is ordinarily after six months, subject to objections. MAP is specific to Scotland. Closest equivalents are the Debt Relief Order (England & Wales and Northern Ireland) and the Debt Relief Notice (Republic of Ireland), each with distinct monetary limits, asset tests and procedures. Legal practitioners often consider these alternatives when advising on low-asset personal insolvency.