Advantages & Disadvantages of a MAP

It won't take long to enjoy a time without personal debt stress

You may by now have decided that MAP or Minimal Asset Process bankruptcy is your best way to becoming debt-free. Just imagine, waking up with the peace of mind that you do not have to deal with debts no longer. You don’t owe money to anyone, or have creditors breathing down your neck for their next payment. It’s all yours.

Finally, this is could be a chance of a fresh start financially.

Above all, you want to keep it that way and at Solutions Scotland we do too. A huge weight has been lifted off your shoulders and you can start enjoying your money again – but this time, keep a very watchful eye on it. At Solutions Scotland
we’re also here to help you sensibly manage your money.


A map can come at a cost. But what have you got to lose?

  • After six months you are free from debt that is covered by MAP – it will be legally written off
  • For those on benefits, a MAP in Scotland could be the best or one of the few solutions available
  • You don’t need to appear in court
  • You don’t have to negotiate with creditors
  • You don’t have to deal with sheriff officers and debt collectors
  • It’s an ideal option for those who have little to no assets
  • It can be good for those who have low income and cannot afford to make payments to their debts
  • Interest or other charges stop being added to your debt once the MAP is approved
  • Your creditors can no longer demand payment once MAP is approved – so you can say goodbye to those stressful red ‘final demand’ letters
  • You’re debt-free!


Like anything a MAP comes at a cost – most significantly, it affects your credit rating. But, this time, if you live within an affordable budget, the details of your MAP will be erased from the Insolvency register within a year as soon as you have been discharged from you’re MAP. That’s one disadvantage of MAP. Be aware; there are a few more:

  • A MAP will have an impact on your ability to gain credit after the plan is finished & your credit file for six years
  • Bankruptcy can lead to instant job dismissal
  • Any assets you do have may need to be sold to repay you debts
  • Your bank may close your account, and you may find it difficult to open an account with another
  • Your landlord may evict you or decide against renewing your tenancy agreement
  • Details will be posted on the Insolvency register and will remain there for up to one year after your insolvency practitioner has discharged you from the MAP
  • You will face credit restrictions for six months after being discharged
  • If you’re self-employed, and rely on credit to pay for stock or services, bankruptcy could make it harder to trade

Unless you’re on a low income, have few to no benefits and are struggling to keep a roof over your head, a MAP might not be the solution for you. But if you’re really struggling financially, and cannot find any other way out – speak to us. Speak to an understanding, expert and friendly advisor from Solutions Scotland. What have you got to lose?

Solutions Scotland is a trading style of Milton & Stirling Ltd, Company Number SC587851 – Solutions Scotland, 78a Stanley Street, Glasgow, G41 1JH. DPA number ZA431921

Milton & Stirling Ltd are an Appointed Representative of MichaelAlan Ltd who are authorised & regulated by the Financial Conduct Authority, FRN 690939.

As part of our free service, we’ll review your financial situation, explain the available options and recommend a debt solution which is suitable for you. The risks of all suitable solutions will be explained clearly and if you decide to go ahead with a debt solution we will refer you to one of our trusted providers who specialise in the management of that debt solution. We’ll be paid for introducing you or for the preparatory work we do, depending on your debt solution fees may be payable if ongoing services are provided. Read about fees and key information in our terms & conditions. To find out more about managing your money and getting free debt advice, visit Money Advice Service , an independent service set up to help people manage their money.