Minimal asset process (MAP) bankruptcy


A minimal asset process (MAP) bankruptcy gives you a very fresh start by writing off all your debts that you can't repay within a reasonable period of time.

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Minimal asset process (MAP) bankruptcy:

A minimal asset process (MAP) bankruptcy gives you a very fresh start by writing off all your debts that you can't repay within a reasonable period of time.
It's aimed at people with a low income and don't have many assets.
You can only apply for MAP through an approved money advice organization, like UK Money Advice. Unlike many other companies, we'll set up and manage your MAP free of charge and easily.

Benefits of MAP:-

  • A minimal asset process (MAP) bankruptcy is a formal legal process; you won’t need to appear in court.
  • MAP bankruptcy costs you only £90 to apply for, which is cheaper than the sequestration. This fee is payable to the Accountant in Bankruptcy.
  • Once your MAP bankruptcy is approved then your creditors can't chase you for the payment or add more interest and charges to your debts, and also they can’t take any court action.
  • Most of the unsecured debts are included in MAP bankruptcy.

Risks of MAP:-

  • Your credit ratings will be also be affected for six years from the day your MAP bankruptcy begins.
  • Your bank is likely to freeze your accounts and you may only be able to get a basic bank account.
  • Bankruptcy can impact on your jobs, or lead to dismissal.
  • Some of the debts, such as student loans, on-going child maintenance and court fines are not included.

How to apply for a minimal asset process bankruptcy:-

    1. Always find out whether MAP bankruptcy is the right debt solution for you or not.
    2. If MAP is the best way to deal with all your debts, then we'll ask you to send details of your income and debts, and give you the support you need.
    3. The best way to apply for a MAP is to call us free on 0203 687 1054 and have a chat with one of our fully trained advisors.
    4. They’ll listen to you and talk about you, your life, your debt and your aspirations. You’ll find them understanding of your situation and helpful in your search for a solution that’s right for you.
    Call us today on 0203 687 1054 for confidential, no obligation debt help and advice.
0203 687 1054