BCW - any truth to this?

[Anonguy]

Hmm.....not quite sure what to do TBH....

 

I CCA'd BCW in 2007, and received a one page photo-copy 12 months later - my signature on it, but that was it - no prescribed terms, no APR and/or interest rate, not signed by the creditor, and probably more! I scanned and posted it here and the consensus was it was certainly not enforcable. My letter to BCW was telling them that fact.

 

So, what do I do? (1) Send it again with a copy of their letter that accompanied their "CCA" (with the reference number on), or (2) just leave it until they hassle me again; then send a letter and report of OFT? I was giong to go with option (1), but not so sure now where I stand......

 

Any opionions welcomed...

[babybear39]

Hi Anonguy,

 

Ask them if the document they sent you a copy of is the one they wish to rely on in court and then invite them to take you there As long as you're 100% sure it's not compliant of course...

[sosumi]

Sorry this is long, but I think these 3 articles tell the BCW story in their own way... I guess 'Big is(n't Quite as) Beautiful' after all?

The first is an article from 2005, by the (then) MD of BCW:

Big is beautiful

By Fraser, Paul

Publication: Credit Management

Date: Friday, July 1 2005

Subject: Technology, Customer relations, Consumer credit, Investments, Credit management

 

Consumer credit is big news. The UK economy has enjoyed ten years of unchecked growth, while low jobless figures and interest rates have convinced lenders to extend consumer credit like never before. Paul Fraser looks at the effect these conditions have had on the debt collection industry.

 

The debt collection industry has thrived under these conditions, but now faces unprecedented pressure from three directions. First, lenders are more concerned than ever about retaining customers and making them more loyal, making credit control departments more considerate when applying pressure to late payers.

 

At the same time, the debt collection industry is adopting new technology faster than ever and, just as other business sectors are discovering, new technology demands new levels of investment. For many debt collection organisations, the level of investment in technology needed just to keep up is becoming prohibitive.

 

And as if these pressures were not enough, the Government and all the UK's leading political parties have become concerned about the long-term sustainability of the growing level of consumer debt. The Government is also becoming increasingly concerned about the damaging effect on the British people of excessive exposure to debt, and the negative effects it can have on the household and family unit.

 

Debt collectors have never faced challenges from so many directions, so it is valid to ask the question: does it spell a period of difficulty for the industry, or is this the start of a time of innovation and consolidation that will result in a smaller number of UK and pan-European super agencies? In short, when it comes to debt collection agencies, are we entering a period where big is beautiful?

 

Five years ago, UK PLC was happily strengthening its relationship with its customer base through extended credit terms. Increased indebtedness among consumers was viewed as a good thing. After all, interest rates looked likely to remain at a generational low, and if you have a customer paying you back for the next four years for services already delivered, it surely offers new opportunities to increase the value of that customer by selling them new services as and when they come on line.

 

What nobody bargained for was the willingness of UK consumers over the next five years to take on debt. A report by the UK's Financial Services Authority suggests that today as many as 6 million UK households are struggling to meet their repayment obligations, while a growing number of horror stories are reported in the media about people finding themselves in serious personal financial difficulty.

 

Certainly, UK households have never been as highly leveraged as they are at present, and while doom-mongers and committed optimists will always clash about the immediacy of the problems this poses, one thing is certain: if current consumer borrowing is a product of irrational exuberance, there is a risk we are witnessing a consumer spending bubble, which could be followed by a crash. And that is one thing that the major political parties and Government are worried about.

 

Yet there are plenty of reasons not to be alarmist about consumer borrowing. Leading economists cite low jobless figures, low inflation and a soft landing in the housing market as signs that the current state of affairs is sustainable. Moreover, there is plenty of evidence that UK PLC has been cautious over the past five years, and may now be thinking about increasing spending as a means of achieving growth.

 

Having been caught out by the dot com crash in 2001, chief executives generally pulled in their horns, focusing their energies on seeking efficiency gains and gently improving profitability. Those efficiencies may now have kicked in - a series of record profit announcements last year among FTSE 100 companies suggest the search for efficiency gains has paid off.

 

Gradual and sustained growth in spending on advertising over the past two years further suggests the UK's business bosses are now beginning to use their increased profitability to develop their customer bases. The search for more customers and more loyalty appears now have begun in earnest, which is good news for the economy.

 

So where does this leave the debt collection industry? Risk management and the collection of late and unpaid debts have traditionally been the first functions to feel the pressure as companies seek to grow their customer base.

 

There is ample evidence among major utilities, telecoms companies and banks that existing customers are becoming ever more precious, and competitive pricing in the form of increasingly attractive credit terms remains an essential element in the marketing toolkit. But if the balance has tipped in favour of permitting some additional credit risk, expectations on collection results have leapt forward, in line with investments in technology and improvements in customer data.

 

It's a challenging place to be, and for traditional debt collectors, it will not get any easier over the next three years. In the first instance, there will be an increased emphasis on understanding the entire customer lifecycle, making the market for traditional debt collection agencies increasingly barren.

 

For some, this change is welcome, and the more innovative organisations in the debt collection industry are discovering that there are opportunities to move significantly up the business food chain. Some debt collection agencies have for years offered preventative early arrears and dispute management services, and a few have followed the US model and moved wholeheartedly into outsourced customer services.

 

The bottom line for all players in the market is that profitability from traditional collection services is shrinking. They need to boost margins through technology investment and innovation, and through the creation of economies of scale.

 

There has until now been a great deal of scope for debt collection agencies to become leaders in specific niches, such as banking or utilities. The pressures of legislative awareness and customer expectations within which banks or utilities operate are unique and complex, meaning an agency that is able to demonstrate a real understanding of their clients' requirements has immediately been on to a winner.

 

But niche specialists are increasingly facing prohibitive investment requirements leading many to seek new sources of investment capital - and in many cases this means merger or acquisition partners. This trend is well illustrated by the recent acquisition of APEX Credit Management Limited, a UK debt collection agency specialising in the banking and finance sector.

 

APEX started life in 2000, and within five years had become a serious challenger on most banking debt collection panels, thanks to its ability to deliver performance that was simply unmatched by its competitors. It benefited from support within the banking and finance sector from organisations that appreciated that its specialist processes, training and personnel meant it could operate effectively, and fairly, within a highly regulated industry sector.

 

When, earlier this year, BCW Group Plc - the debt collection agency I run - acquired APEX, it was the latest step in a five-year growth strategy that has seen BCW Group grow to a turnover of 30 million this year. The thinking behind this deal was simple - APEX was a successful niche player, but was increasingly needing to invest in expensive technology and process re-engineering to meet legislative challenges.

 

BCW Group is big enough to invest in technology and innovative processes. It was one of the first debt collection agencies in the UK, for example, accepted on to Fair Isaac's Placement Plus debt administration platform which seems likely to be adopted as standard at least within the banking and finance sector over the next year or two. The cost of implementing Placement Plus is significant - but the benefits make it a worthwhile investment, and it generally raises the bar for the industry, which has to be applauded.

 

BCW Group has, according to one of Europe's largest suppliers, become one of only 30 organisations in Europe to integrate the state of the art Avaya PDS 12 predictive dialler into its workflow platform (I expect letters from 31 other debt collection agencies disputing this!). And BCW Group was one of the first debt collection agencies in the UK to pre-empt one of the major outcomes of the Consumer Credit Bill currently passing through the House of Commons, and re-engineer its collections processes to include an alternative approach for debtors genuinely struggling to meet their financial obligations.

 

In fact, the Consumer Credit Bill will transform the industry, as it will make trading as a debt collection agency impossible unless the businesses in questions are able to establish clearly that they are "fit" to collect from consumers.

 

Not to put too fine a point on it, being deemed "fit" to collect from consumers is extremely unlikely to help agencies deliver performance improvement, unless it can be based on a technology-led and investment-led approach.

 

Many debt collectors in the UK are likely to find the pressure from clients, technology and legislation - coupled with the usual pressure of increased competition of new entrants - too much to handle.

 

One likely outcome will be a wave of consolidation, from small agencies looking to be acquired, through to mid-sized agencies joining forces to tackle growing international markets. Any agency in the market at present without growth plans will slip back in the UK league as younger upstarts overtake them.

 

The industry is doing a good job at present of maintaining a dialogue with the Government, and this must continue. The move to more scrupulous lending must be welcomed, and debt collectors need to earn respect through a commitment to investment in collections processes designed to protect vulnerable consumers, as well as meet the performance expectations of clients.

 

And such commitments do not come cheap - which is why over the next three years in the debt collection industry, we will be able to say with conviction: big is beautiful.

 

Taking them on south of the border

 

With the acquisition of its former rival. Apex Credit Management of Stratford-on-Avon, BCW Group now employs more than 800 staff at five locations in the UK and Ireland. The Group expects the acquisition to create further employment over time, both north and south of the border.

 

Martin Sheppard and Dougie McManus, previously of APEX and now directors of bcwgroup, flank Paul Fraser

 

Paul Fraser: "This is a major consolidation within the credit management sector, which has grown rapidly in size and professionalism over the last decade. Clients such as banks and major utilities companies want professional service partners who reflect their own commitment to business and client servicing excellence. Apex enjoys a similar reputation to BCW so it's an excellent fit for us".

 

Paul Fraser is Group Managing Director of BCW Group Plc.

From here, 2006:

Credit Management & Debt Collection Business Industry News

 

Multimillion-Pound BCW Group Sale Paves Way For 250 New Jobs

 

 

Jul 11 2006

GLASGOW-based credit management specialist BCW Group Plc has announced the sale of its International Outsourcing Division in a management buy-out backed by finance from venture capitalist Sovereign Capital.

 

BCW Group will use the proceeds of the sale – estimated to be around £28 million – to speed up expansion of its credit management arm through acquisitions, creating 150 Scottish jobs over the next two years, as well as 100 at its Stratford-upon-Avon centre.

 

The deal lays the foundation for the company to become the UK and Ireland's number one credit management organisation, building on its client base of household names from the banking and finance, retail, telecoms and utility sectors.

 

Group managing director Paul Fraser said: "This deal is fantastic news for the people and clients involved in both the existing credit management company, and the new outsourcing company that has been created from this sale.

 

"As a team, we have grown this company from scratch over 23 years, and it is hugely satisfying to see such value being created through the high-quality employment and investment we have brought to Scotland. But this marks only the latest milestone for us as we look forward to further acquisitions, and job creation at our Glasgow, Stratford and Dublin centres."

 

Jarlath McHale, who will be managing director of Avance Group PLC, the company formed after the successful MBO, said: "We are delighted that the deal with BCW has now been concluded, and look forward to building on the solid foundation of this exciting organisation. BCW have built a reputation as one of the best employers in the country, and we intend to build on that at Avance Group."

 

BCW Group generated sales of over £30m last year through UK and Irish credit management operations, and the work of its international outsourcing division, which spans over 50 countries around the world, operating in over 30 languages, from centres in Rutherglen and Leeds.

 

Turnover at the new credit management-focused organisation is expected to pass £20m this year, and its employee count will pass 500.

 

The company is already in talks with a number of potential acquisition targets, and hopes to repeat the success it has had since the acquisition in March 2005 of niche banking and finance debt collection agency APEX Credit Management Ltd.

 

Fraser explained: "The APEX acquisition last year showed us how to quickly integrate the operations of a smaller and highly specialist organisation into the BCW Group umbrella. Our acquisition strategy is likely to follow similar logic, and we will identify targets keen to benefit from our industry-leading technology and financial influence."

 

BCW Group has gained a reputation for treating its employees well, appearing three years running in the "Best Companies To Work For" list, and winning praise for unique perks, such as free fresh fruit, head and shoulder massages at people's desks while they work, and champagne on birthdays.

 

It has also won a number of Public Sector business awards in the past nine months, earning praise for its innovative approach to council tax collection in England and Scotland, which places understanding the plight of those struggling with financial problems above taking a hard-line approach to non-payment of tax.

 

Fraser continued: "We have invested hugely in technology – over seven figures per year – and it enables us to manage customer data far more efficiently than would otherwise be possible. It means we are able to get quickly to the root causes of non-payment, meaning we don't come down heavily on people in financial trouble."

 

BCW Group was recognised last year as one of Europe's most successful job creating companies, and was the top Scottish company to appear in the annual Europe's500 index of companies.

So it's all going very well in 2006:rolleyes:

And then, from here:

In brief...: BCW sale disposes of finance arm - Business 7

In brief...: BCW sale disposes of finance arm

 

Nov 30 2007

Glasgow firm BCW Group has sold its Stratford-upon-Avon-based banking and finance division.

Specialist equity fund Ana Cap Financial Partner snapped up the business for an undisclosed sum.

The deal includes Apex Credit Management, which is a leading collector of consumer debt for banks and financial institutions.

Bryan Mouat, BCW Group managing director, said: "This deal is great news for both BCW Group andApex Credit Management.

"AnaCap has ambitious plans for the business creating significant further opportunities for both clients and staff."

The disposal will mean expansion at BCW's remaining Glasgow and Dublin-based operations.

Mouat added: "This means those of us in Glasgow and Dublin can focus exclusively upon a return to our original core business, which led to our industry-leading achievements and pre-eminent reputation.

"It will also allow us to continue at pace the ongoing programme of expansion and investment in George Square and Blanchardstown."

 

[callybags]

I've just done a post on this group in another thread and I did a search on Companies house and it's coming up as 'Dissolved' the address is a Glasgow address.

Cally

[babybear39]

Nawty BCW

[crh]

i've got a complaint against with the ICO at the moment

 

from what the ICO guy was telling me they havent been very helpfull

 

I hope they do go down

[sosumi]

Despite their glam web page, they always go for vulnerable people - see a lot of posts here from people owing small amounts - the smaller the debt, the meaner they get! So I share your sentiments crh.