Assisted Bankruptcy Service
Applying for bankruptcy is not something most people do twice. We sit with you and guide you through the government's online application from start to finish, so it is done properly, first time.
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Fixed fee of £1,500, which includes the £680 government application fee
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Usually completed in a single session of two to three hours
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Guided in person through the whole gov.uk application
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Confidential advice from a licensed insolvency practitioner, without judgement
Who This Service Is For
There is no shame in reaching this point. Debt builds up for all sorts of reasons, and by the time bankruptcy comes into the conversation, most people are exhausted by it. This service exists for anyone who wants a knowledgeable person sitting beside them while they take that step.
It tends to suit:
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Individuals in serious personal debt who are seriously considering bankruptcy
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Anyone who has looked at the gov.uk application and found it daunting or confusing
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People who want the application completed accurately the first time, with no gaps or errors
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Those who want their options explained honestly before they commit to anything
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Directors and self employed people whose personal finances have been affected by a business
If you are not certain bankruptcy is right for you, that is fine. Our first conversation is about working out whether it is.
What Is Assisted Bankruptcy?
In England and Wales, you can only apply for bankruptcy online, through the gov.uk service. It costs £680. You create an account, work through a long questionnaire about your income, outgoings, debts and assets, and pay the fee in full before you can submit. An adjudicator then reviews everything you have told them.
The process is open to anyone. It is also detailed, personal, and easy to get wrong when you are already under pressure.
Assisted bankruptcy does not replace that process. Your application still goes through gov.uk in your name. What changes is that you are not doing it alone. Richard sits with you, explains what each section is really asking, makes sure your figures and paperwork are right, handles the payment of the fee and submits the application on your behalf.
You get the same official process, with someone who has spent nearly forty years in insolvency making sure it is done properly.
1. Initial consultation and options review
We start by understanding your situation properly. What you owe, who to, what you own, and what your income looks like. Then we talk honestly about your options. Bankruptcy is one route out of unmanageable debt, but it is not the only one, and it is not right for everybody. If an Individual Voluntary Arrangement or an informal arrangement would serve you better, we will say so.
2. Setting up your gov.uk account
We help you create your account on the government's bankruptcy service and make sure you have everything the application asks for before you start. That usually means wage slips, benefit or pension statements, bills such as council tax, credit card and electricity, and any letters from bailiffs or enforcement agents.
3. Guided completion of the online application
This is the part most people worry about. We work through the questionnaire together, section by section. Where a question is unclear, we explain what it means and why it is being asked. Where a figure needs care, we get it right. Nothing is guessed at and nothing is left blank in the hope it will not matter.
4. Payment and submission
The government will not accept an application until the £680 fee has been paid in full. You pay RCM Advisory the fixed fee of £1,500. We pay the £680 to the Insolvency Service out of that, and submit your completed application for you.
5. After submission
Once your application is in, it goes to an adjudicator, who usually reaches a decision within 28 days. It can take longer if they need to come back to you with questions. We explain what happens next, what the official receiver will ask of you, and what to expect in the weeks that follow.
If you need us after that, we are still here. Just pick up the phone.
Why Use RCM Advisory Instead of Doing It Yourself?
Applying on your own
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You work through the gov.uk service unaided
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Mistakes, omissions or misunderstood questions can delay your application or prompt further questions from the adjudicator
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No one to tell you whether bankruptcy is genuinely your best option
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The process can feel isolating at a point when you are already worn down
With our assisted service
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A licensed insolvency practitioner guiding you through every section
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A frank conversation about your options before you commit to anything
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Your figures and paperwork checked by someone who does this for a living
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The fee handled and the application submitted for you
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One fixed price of £1,500, with nothing added later
Our fee is £1,500, and that includes the £680 government application fee.
For that you get:
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Two to three hours of one to one time with a licensed insolvency practitioner
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A full review of your circumstances and your alternatives to bankruptcy
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Your complete application prepared, checked and submitted
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The £680 fee paid to the Insolvency Service by us on your behalf
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A clear picture of what happens next
There is nothing else to pay. No hourly rate, no surprise invoice at the end.
If paying £1,500 in one go is not possible for you, tell us at the first conversation. The government does allow the £680 fee to be paid in instalments, though the application cannot be submitted until it is paid in full, and there are debt charities that may be able to help. We would rather talk it through than have you rule the service out.
Frequently Asked Questions
Can I apply for bankruptcy myself? Yes. Anyone in England and Wales can apply directly through gov.uk for £680, and you do not need an adviser to do it. This service is for people who would rather not do it on their own.
What if I cannot afford the fee all at once? The government allows the £680 application fee to be paid in instalments, but your application cannot be submitted until the full amount has been paid. Free debt advisers and some charities can also help with the fee. Talk to us and we will point you in the right direction.
How long does it take once we submit? An adjudicator usually decides within 28 days of your application being submitted. If they need more information from you, it can take longer. The bankruptcy itself normally lasts 12 months, after which you are usually discharged automatically from the restrictions and from most of your debts.
Will this affect my home? It can. Your home may have to be sold to pay towards your debts, and possessions that are not essential and are worth a significant amount may be sold too. Whether that applies to you depends on your circumstances, and it is one of the first things we will look at together.
Will it affect my job or my business? Some professions and some employment contracts are affected by bankruptcy, so it is worth checking yours. While you are bankrupt you cannot act as a company director or manage a limited company without permission from the court, you cannot borrow more than £500 without telling the lender, and if you run a business you must tell the people you deal with the name you were made bankrupt under. We will go through what this means for you before you apply.
Is this service confidential? Yes. Everything you tell us stays between us. Bankruptcy itself is a matter of public record and appears on the Individual Insolvency Register and in the Gazette, and we will explain exactly what that means, but your conversations with us are private.
Do you offer support after I am made bankrupt? Yes. Being discharged is not always the end of the story, and questions come up. Get in touch whenever you need to.
Is bankruptcy definitely the right answer for me? Possibly not, and we will tell you if we think it is not. An IVA, a repayment arrangement or something more informal may suit you better. That conversation is part of the service.
About Richard
RCM Advisory is led by Richard Cacho BBus ACA, a licensed insolvency practitioner regulated by the Institute of Chartered Accountants in England and Wales, with nearly forty years of experience across accountancy, law and insolvency.
Richard describes his work as one third accounting, one third law and one third psychology. In personal insolvency, that last third matters most. Financial difficulty affects your sleep, your relationships and your sense of yourself, and it rarely helps to be handed a form and a phone number.
You will not be judged here, and you will not be buried in jargon. You will get a straight answer about where you stand and what you can do about it.
Richard Cacho - RCM Advisory Director
You don't have to face the application alone
Bankruptcy is a serious step, but it is also a way out, and the paperwork should not be the thing that stops you taking it. Book a confidential conversation and we will talk through where you stand, with no obligation and no pressure.
If you would rather just speak to someone now, call 0800 288 4088.