LC Asset 2 SARL on Bank Account – What Now?

Has a letter from LC Asset 2 SARL on your bank statement left you in a muddle? Don’t fret; you’re at the right spot to get answers.

This article will help you understand:

• What LC Asset 2 SARL is, and why it’s on your bank statement.
• How to check if the debt they say you owe is truly yours.
• Ways to stop them from hounding you.
• Your choices to plan payments or possibly even cancel your debt.

Every month, more than 170,000 people come to our website for tips on debt issues like yours, as research shows 64% of UK adults find interactions with current debt collectors stressful¹. We understand how scary it is to be chased by debt collectors, as some of us have been there too.

Here’s how you can deal with LC Asset 2 SARL and put your worries at ease.

LC Asset 2 SARL might be a debt collector

There is further evidence that LC Asset 2 SARL might have also acted as a debt collection company in the past or still is, even working for Lloyds Bank:

“My son has received 2 letters today. 1 from Lloyds informing him they have no further interest in his account and have assigned & sold his account to LC Asset 1 S.A.R.L. The second from the above company wanting the outstanding amount from him directly. I take it this is just a business making money and should he pay them?”

• Anon (Legal Beagles Forum)

And there is further evidence that LC Asset 2 SARL debts might now be being chased by other debt collectors, including Link Financial which as we previously uncovered is already connected to LC Asset 2 SARL. See here:

“I have just today received a letter from Link Financial debt recovery, asking to get in touch about a debt which I apparently have. They say they have taken the debt from LC Asset S.A.R.L another company whom I have never dealt with. In the letter, they state they have been trying to get in touch, yet this is the first time I have ever heard from them.”

• Ritlo (Money Saving Expert Forum)

LC Asset 2 SARL on your bank account – what does it mean?

LC Asset 2 SARL on your bank account would indicate a payment to this company, which may still be working as a debt collection agency.

However, due to the connections with other businesses in the UK, including the debt collection business Link Financial, it could also indicate a payment to one of these businesses. 

If you have not agreed to pay these companies or set up a payment plan with one of them, you should contact your bank. You can raise the transaction as fraud to get it refunded and look into ways to stop further transactions to this company. You should not raise the transaction as suspicious if you have dealings with either:

1. LC Asset 2 SARL
2. Victoria Asset Finance Limited
3. Asset Link Capital
4. Link Financial

Instead, try reaching out to the company above you have dealings with and ask if the money was taken by them. There could be other companies connected to LC Asset 2 SARL not listed above due to the complexity of how these businesses have been arranged and different trading names. 

» TAKE ACTION NOW: Fill out the short debt form

Do you have to pay Link Financial?

Link Financial will tell you that you must pay or you could be taken to court. This isn’t exactly a lie, but often debt collectors will threaten court action and never follow through. Other times, they do take people to court where the financial costs can become greater. 

The average unsecured debt has increased by 25% year-on-year, rising to £13,941, so it’s unlikely that they’ll let your debt go².

To make sure you don’t get taken to court, you need to take action. You might end up having to pay, but there are other things you can try first. You can:

1. Check that the debt is still enforceable – after five or six years depending on location, the debt might not be allowed to be judged on by the courts. This means you can never be given a court order to pay and consequently you’ll never be forced to pay.
2. Ask Link Financial to prove the debt – Link Financial must prove you owe the debt before you have to pay. This step of the process could buy you time or help them realise their mistake in chasing the wrong person. Send them a prove the debt letter to start this process. 

We always recommend responding to debt collectors – even just to question the debt’s validity. Remember, you have the right to request proof of the debt. They have to prove it, or they can’t charge you.

Why are they on your credit report?

Link Financial Debt Collection may appear on your credit report if they have purchased your debt or account arrears from another business.

You’ll now owe the money to Link Financial and they could mark your credit report if you don’t agree to pay. 

Know Your Rights

One of the most important parts of protecting yourself against debt collectors is knowing what your rights are and what debt collectors are entitled to do. Please check out our related article on the topic and take a look at the table below.

Victoria Asset Finance Limited Contact Details

References

1. InDebted Debt Collector Survey.
2. Citizens Advice, One in 10 Buy Now Pay Later shoppers have been chased by debt collectors.