Buchanan clark and wells. advice please

[Mike1976]

There is a default on my equifax/experian CR. Saying that i owe these people £250.00 apparently its for an old Provident account. I contacted them asking for proof that i owe this debt. They could not prove anything. I also advised them that i had never received a default notice. The monkey on the other end of the phone said that they had not defaulted this as they as a company dont default accounts. I advised the lady that it is on my account as a default from BCW group. To which she said cant be cause they dont default accounts. Not sure where to go with this one.
Any advice would be appreciated.
Mike

[FORCEOFONE]

Re: Buchanan clark and wells. advice please

Provident will default the account, the original creditor, BCW will just update the default with their name when the account has been sold (assigned them) from provident.

The default date allways stay the same, it does not change on assignment

If the default is in error, then BCW who are now the creditor on assignment are the data processor, must change or remove the default, not provident

[FlamingParrot]

Re: Buchanan clark and wells. advice please

There is a default on my equifax/experian CR. Saying that i owe these people £250.00 apparently its for an old Provident account. I contacted them asking for proof that i owe this debt. They could not prove anything. I also advised them that i had never received a default notice. The monkey on the other end of the phone said that they had not defaulted this as they as a company dont default accounts. I advised the lady that it is on my account as a default from BCW group. To which she said cant be cause they dont default accounts. Not sure where to go with this one.
Any advice would be appreciated.
Mike

First of all, did you have a Provident account and did you default on it? If so, how long ago did you default?

BCW wouldn't have issued a default notice because they are debt purchasers who would have bought the account after it was defaulted, the OC (Provident in this case) would be the one to issue the DN. If you had a debt with Provident that was sold to BCW, you should have received a Notice of Assignment. See below from the ICO Guidance Notes for filing defaults with CRAs: http://www.ico.org.uk/~/media/docume...%20%20doc.ashx

The 'sale' or assignment of debts on defaulted accounts

52 When the rights to a debt are sold to a third party, the lender has to make sure the records with the credit reference agency are accurate, up to date and adequate. If they want information about the debts to continue on the credit reference file they will need to come to an agreement with the purchaser about who is to be responsible for this.

53 If the purchaser agrees to take control of the record, the customer should be informed that the debt has been sold or assigned and to whom. The credit reference agency file should be changed to show the name of the purchaser and that the rights to the debt have been sold or assigned. The purchaser should then make sure the record is kept up to date including changes to the amount still owed. The purchase should not affect how long the record is kept. It should be removed six years after the default.

54 Where the purchaser of the debt does not agree to take control of the record, the original lender, and at least in part the credit reference agency, will remain responsible if the original record is kept on the file. When the debt is sold or assigned, the customer will no longer owe any money to the original lender. If the record is not removed, the sale or assignment should be recorded and the balance should be shown as zero. The customer should still be told who the debt has been sold or assigned to.

[Mike1976]

Re: Buchanan clark and wells. advice please

Thanks for that i know wheee i am now. Yes i had an account with provident and defaulted on it. Although i dont remember provident ever sending me a default notice.
Will just agree to pay BCW. this ones deffo my fault.
Thanks again FP.

Mike.

[FlamingParrot]

Re: Buchanan clark and wells. advice please

Thanks for that i know wheee i am now. Yes i had an account with provident and defaulted on it. Although i dont remember provident ever sending me a default notice.
Will just agree to pay BCW. this ones deffo my fault.
Thanks again FP.

Mike.

Are they actually chasing you for payment? Or did you just notice the default? If this is an old debt, it may well be close to Statute Barred (6 years after last payment or written acknowledgement in England & Wales, 5 in Scotland).

Before making any offers of repayment, you should be aware that it won't make much difference to your credit file whether you pay it or not, the default will remain for 6 years from the date it was recorded, then it will drop off whether it's paid or not.

If you pay, it will be marked as 'satisfied' or 'settled', but it will still show up as a default for 6 years.

[Mike1976]

Re: Buchanan clark and wells. advice please

Thanks FP. Im lead to believe that if i pay the amount that it will look better as satisfied on my credit file than if i leave it to fall of and ignore it. this ones from about 2010. so still got roughly 3 years. the balance is 250. but had a letter offering to settle for 125. Will a satisfied default not be looked at more favorably than a standard default.

Thanks Mike

[FlamingParrot]

Re: Buchanan clark and wells. advice please

Thanks FP. Im lead to believe that if i pay the amount that it will look better as satisfied on my credit file than if i leave it to fall of and ignore it. this ones from about 2010. so still got roughly 3 years. the balance is 250. but had a letter offering to settle for 125. Will a satisfied default not be looked at more favorably than a standard default.

Thanks Mike

Up to you, but a default is a default and lenders don't always see things the way you see them on your own credit file, they will be accessing via computer software and different lenders may get different responses depending on the scoring system they use. Also some lenders may only search the past three years when applying for unsecured credit such as cards and loans as opposed to mortgages.

If they accept a reduced settlement, the account may well be marked as "partially satisfied". Just so you are aware of the downside. You should make sure they don't accept your settlement and then come back asking for the rest, or sell it on to a DCA who will chase you again, that happened to me with a small debt like yours which stupidly settled over the phone using my debit card to make the agreed payment, I then started getting letters asking for the balance.

[Mike1976]

Re: Buchanan clark and wells. advice please

Argh ok ..

Thanks for that.

Just uploaded the WF Sar on my other thread see what u think.

Thanks Mike

[DARKMAIDEN]

Re: Buchanan clark and wells. advice please

Hi I have just had same thing last friday verification letter from the mentioned bwc athough got my intial and surname no middle intials.. i have read online about these people and i am worrying about this can any body help.

[FlamingParrot]

Re: Buchanan clark and wells. advice please

Hi I have just had same thing last friday verification letter from the mentioned bwc athough got my intial and surname no middle intials.. i have read online about these people and i am worrying about this can any body help.

What sort of verification letter was that? Did they quote an account number and name of who the original creditor would have been? What about the alleged amount outstanding? Middle initials are an optional field on may database systems, that in itself doesn't mean they've got the wrong person.

If they haven't provided any details of the alleged debt, I would just ignore it and let them write something more substantial. If they have provided some details, I would send a prove-it letter.

It's not unusual for DCAs to start off with a very vague letter and, after receiving no response, getting more and specific. 1st Credit started with what looked like a fishing expedition, verifying whether it was me who lived there, if not I should tell them, etc. :blah::blah::blah: When I didn't reply, their letters got more and more specific until they sent me a Notice of Assignment for a debt I had forgotten all about.