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Scottish Parliament grants extension to coronavirus temporary support measures

  • Sharon McDougall -
  • 21st October 2020 -
  • 2 minutes to read

The Scottish Parliament have agreed to extend coronavirus temporary measures until 31 March 2021, offering greater access to personal debt solutions and protection for individuals in financial difficulty during Covid-19.

As the coronavirus pandemic halts income, increases household liabilities and forces individuals to live on the edge of their savings, personal debt is increasing to unprecedented levels. Following approval to extend both Scottish Coronavirus Acts, including adjustments to the Minimal Asset Process (MAP), application fees and moratorium requirements, here are the key changes:

Minimal Asset Process (MAP) Applications

Debt ceiling extension: The debt ceiling is temporarily extended to £25,000, rather than £17,000. Eligibility criteria for the MAP route into bankruptcy require a minimum debt level of £1,500 and a maximum debt value of £17,000, temporarily extended by a further £8,000 to open the door to a greater number of applicants. Please note that the rules remain the same concerning student debt which cannot be included in the debt ceiling calculation.

MAP application fee adjustment: The MAP application fee is removed for those in receipt of specified benefits and reduced to £50 for all others.

Full administration application fee
The application fee for individuals not meeting the MAP criteria is removed for those in receipt of specified benefits and reduced to £150 for all others.

Creditors debt threshold
The minimum debt threshold for creditors to lodge a sequestration petition is extended from £3,000 to £10,000.

Moratorium adjustment
A moratorium can now be put in place for up to six months and moratorium applications can be made more than once a year.

If you require any further clarification on the above adjustments, please contact a member of the Scotland Debt Solutions team. We understand that coping with personal debt problems during this period of economic uncertainty can be challenging, our expert advisors can talk you through the options available to help restructure your financial affairs.

Sharon McDougall
Sharon McDougall
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