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Buchanan, Clark and Wells Debt Collectors – Should You Pay?

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Scott
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Scott Nelson

Managing Director

MoneyNerd’s founder, Scott Nelson, has a decade of financial industry experience, including 6 years in FCA regulated loan and credit card companies. Troubled by a lack of conscience in the industry, he founded MoneyNerd to give genuine advice to those in debt and struggling financially.

Learn more about Scott
&
Janine
Janine Marsh Profile Picture

Janine Marsh

Financial Expert

Janine Marsh is an award-winning presenter and a valuable member of the MoneyNerd team. With a wealth of experience as a financial expert, she's been featured on BBC Radio 4, BBC Local Radio, and BBC Five Live, and is a regular on Co-op Radio.

Learn more about Janine
· Jan 19th, 2024
Could you legally write off some debt? Answer below to get started.

Total amount of debt?

This isn’t a full fact find, MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.

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Buchanan, Clark and Wells Debt Letter - Know your rights!

For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.

Are you worried about a letter from Buchanan, Clark and Wells Debt Collectors?

Don’t worry; you’re not alone. Every month, over 170,000 people use our website to find answers to their debt questions. 

We’re going to help you with:

  •  Finding out if the debt is truly yours, so you only pay what you owe.
  •  Understanding why Buchanan, Clark, and Wells Debt Collectors keep trying to reach you.
  •  Knowing if you could write off some of your debt.
  •  Learning how to stand up for yourself and handle debt collectors.
  •  Exploring possible debt solutions like a Debt Management Plan or an Individual Voluntary Arrangement.

We know how you feel; our team has dealt with debt collectors and found ways to solve their problems. With our guidance, you can face this challenge with confidence.

Ready to learn more about dealing with Buchanan, Clark and Wells Debt Collectors? Let’s get started!

Could you legally write off some debt?

There are several debt solutions in the UK, choosing the right one for you could write off some of your unaffordable debt, but the wrong one may be expensive and drawn out.

Answer below to get started.

How much debt do you have?

This isn’t a full fact find. MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

Why do Buchanan, Clark and Wells Debt Collectors keep contacting you?

Quite simply; if Buchanan, Clark and Wells Debt Collectors are contacting you, it’s because you owe money to someone. The debt isn’t directly with Buchanan, Clark and Wells Debt Collectors, but instead, it will be with another company, usually a loan or credit card company. You may have completely forgotten about the debt you owe, but it always has a way of finding you again! They collect debts for other companies that don’t want to waste time and resources doing it themselves.

» TAKE ACTION NOW: Fill out the short debt form

Incase you have never had the displeasure of having to deal with a debt collection agency, you should know how they operate. When you take out some credit and fail to pay it back, the original creditor will attempt to get the money from you. If they try without success, they will eventually turn to debt collectors who will purchase the debt, usually in bundles. The debt recovery company only pays a small amount for the debt, but it gets it off the original creditors desk, and allows them to make a bit of money. The debt collectors are desperate to get payment for the debt, otherwise they are sitting with debt they have purchased and they are losing money on it. They offer resort to some pretty nasty tactics in an attempt to get repayment.

Finding out if this is your debt

We would never suggest ignoring the debt collectors, in fact, our opinion is quite the opposite. However, we always suggest that debtors check that they do actually owe the money, before diving in to make arrangements to pay it. Debt collectors sometimes get it wrong, and you could end up paying debt that doesn’t even belong to you, if you don’t seek confirmation.

How a debt solution could help

Some debt solutions can:

  1. Stop nasty calls from creditors
  2. Freeze interest and charges
  3. Reduce your monthly payments

A few debt solutions can even result in writing off some of your debt.

Here’s an example:


Situation

Monthly income £2,504
Monthly expenses £2,345
Total debt £32,049

Monthly debt repayments

Before £587
After £158

£429 reduction in monthly payments

If you want to learn what debt solutions are available to you, click the button below to get started.

Get Started

What is a Buchanan, Clark and Wells verification letter?

The best way to get proof is to get a Buchanan Clark and Wells letter by writing to them with your request for a copy of the original signed credit agreement. There is no reason for being unable to provide this, and if they refuse to do so, just stop paying them.

You can also request the lender to send you details of the debt and any evidence they have that it isn’t statute barred. If it is found to be so, then you do not have to pay them and can make a complaint to the Financial Ombudsman Service.

Even if the debt is proved to be yours, if you haven’t made any payments in the last six years, the debt might be ruled as statute barred, meaning you don’t have to pay at all.

When a debt is statute barred, even though you are not liable to pay it the debt is still not wiped.

Will I need to pay this debt?

Unless you haven’t received confirmation, or there is evidence that you don’t owe it, you will be liable for the debt. You should pay the debt as soon as possible, but if your finances do not allow you to do so, you can ask Buchanan Clark Wells Debt Collectors to set up a suitable repayment plan. They may even allow you to clear the debt by making a partial payment.

Thousands have already tackled their debt

Every day our partners, The Debt Advice Service, help people find out whether they can lower their repayments and finally tackle or write off some of their debt.

Natasha

I’d recommend this firm to anyone struggling with debt – my mind has been put to rest, all is getting sorted.

Get started

Reviews shown are for The Debt Advice Service.

Can I get a Debt Solution?

Are you dealing with Buchanan, Clark and Wells debt but know that you can’t afford to pay? Those who are facing financial hardship might benefit from a debt solution.

There are several different debt solutions available in the UK, so I recommend speaking to a debt charity as soon as possible. Their advisors will be able to look at your finances in detail and help you work out which debt solution will work best for you.

I have linked a few charities that offer these advisory services for free below.

Debt Management Plan (DMP)

A DMP is an informal debt solution that lets you pay off your debts via a single monthly payment.

Because it is informal, it is not legally binding so you are not tied into a DMP for a minimum number of payments.

Individual Voluntary Arrangement (IVA)

An IVA is a formal agreement between you and your creditors. You agree to pay a monthly sum that is distributed amongst your debts, and your creditors agree not to contact you during your IVA.

IVAs typically last for 5 or 6 years, and any outstanding debt is wiped off when it ends.

Keep in mind that IVAs are not suitable for everyone. You need to owe several thousand pounds to more than one creditor to be eligible. You also need to demonstrate that you have some disposable income every month.

Trust Deed

IVAs are not available in Scotland. Instead, you will need to opt for a Trust Deed.

Trust Deeds work in the same way as an IVA – you pay an agreed sum each month that is shared amongst your creditors, they can’t contact you, and any leftover debt at the end of your Trust Deed term is written off.

Debt Relief Order (DRO)

A DRO is a good option for those facing financial hardship with no assets and little income.

For 12 months, you make no payments, but your creditors freeze your interest and don’t contact you.

If your finances haven’t improved during this year, you may be able to write off your unsecured debts.

Bankruptcy

If you have debts but no realistic possibility of ever paying them off, you may need to declare bankruptcy.

Bankruptcy has an unfair stigma attached to it as it may be your only way of getting a financial fresh start. That said, it is a serious financial situation that should not be taken lightly.

Sequestration

Sequestration is the Scottish version of bankruptcy.

If you have little income and no valuable assets, you may be able to apply for a minimal asset process bankruptcy (MAP). A MAP is a quicker, cheaper, and more straightforward version of sequestration, so worth considering.

How do I make a complaint against Buchanan, Clark and Wells Debt Collectors?

If you think that Buchanan, Clark and Wells has been unreasonable or behaved inappropriately, you can make a complaint. You can also make a complaint if you feel that they have broken any of the Financial Conduct Authority’s (FCA) guidelines.

Make your first complaint to Buchanan, Clark and Wells so that they have the chance to sort out the issue themselves. If you feel that they have not taken your complaint seriously enough or have not addressed your issue properly, you can escalate matters.

You can make any secondary complaint to the Financial Ombudsman Service (FOS). They will investigate and, if your complaint is upheld, Buchanan, Clark and Wells may be fined. You could even be owed compensation.

Buchanan, Clark and Wells Debt Recovery Contact Details

Company Name: Buchanan, Clark and Wells (BCW Group)
Other Names: Arvato Financial Solutions Limited
BCW and UMS (Utility Management Services)
BCW Group
BCW Ireland
Irish Debt Bureau Address
Trading Address: BCW House
24 George Square, Glasgow, G2 1EG
Phone: 0141 562 2623
Fax: 0141 221 9611
Numbers they call from: 08445714288
02036000172
08445714044
08445714015
Website: www.paybcwonline.com
Could you legally write off some debt?

Answer below to get started.

How much debt do you have?

This isn’t a full fact find, MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

References

CONC 7.3 Treatment of customers in default or arrears (including repossessions): lenders, owners and debt collectors

CONC 7.9 Contact with customers

The authors
Scott Nelson Profile Picture
Author
MoneyNerd’s founder, Scott Nelson, has a decade of financial industry experience, including 6 years in FCA regulated loan and credit card companies. Troubled by a lack of conscience in the industry, he founded MoneyNerd to give genuine advice to those in debt and struggling financially.
Janine Marsh Profile Picture
Debt Expert
Janine Marsh is an award-winning presenter and a valuable member of the MoneyNerd team. With a wealth of experience as a financial expert, she's been featured on BBC Radio 4, BBC Local Radio, and BBC Five Live, and is a regular on Co-op Radio.
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