Minimal Asset Process (MAP)

Minimal Asset Process (MAP)

Minimal Asset Process (MAP), is a route into Sequestration.

The Minimal Asset Process allows you to write off your unsecured debts in a short period of time if you are on a low income with no disposable income left after covering your essential living costs or your income is only from income dependent benefits.

If you do not have a low income and you do have substantial assets then you may not be eligible for a MAP and qualify instead for Full Administration Sequestration. MAP Sequestration does impact your credit score but remember, if you have already missed any payments to your creditors, your credit will already have been affected.

The Minimal Asset Process Sequestration solution would leave you debt free and in a position to rebuild your credit rating in a shorter period.

Low and Grow DAS is a formal debt solution introduced in January 2021 that may help Scottish residents who have experienced a loss of income due to the Coronavirus pandemic.

The solution may appeal to those who are in a position to repay their debt over a longer period of time but require a short term solution in the intermediate period before their regular income returns to normal.

You may also wish to consider applying for a Low and Grow DAS if the Minimal Asset Process Sequestration is something that you do not want to consider.

Minimal Asset Process Sequestration replaced the previous equivalent solution known as Low Income Low Asset Bankruptcy (LILA) in April 2015.