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LC Asset 2 SARL on Bank Account – What Now?

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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
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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
· Feb 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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lc asset 2 sarl

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.

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.

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.

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

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. 

I 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.

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

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.

Debt Collectors Can But They Can’t
Contact you by phone or mail. Call you after 9pm or before 8am.
Conduct home visits (on rare occasions) and knock on your door. Forbily enter your home, or stay if you ask them to leave.
Threaten to take you to court by suing you for payment on a debt. Harrass you, including threats of violence, repeated calls and visits, or abusive language.
Negotiate a debt settlement. Tip: make sure to get this new arrangement in writing. Visit your workplace.
Access your bank account, but only after a court judgment has been made. Take anything from your home or threaten to do so.
Sell your debt. Speak to other people about your debt without your permission.
Contact you frequently. Keep doing so if you request that they reduce communications.

Will They Give Up Chasing?

After all that you might be wondering whether you can just wait it out and hope they stop chasing you.

Sadly, that’s probably not going to happen. Most debt collectors are persistent.

debt collector chased debt

Source: Moneysavingexpert

As you can see Robinson Way starting to chase a debtor mere days after their mortgage application and a full 12 years after the debt was originally chased.

Other agencies like Lowell Group, Portfolio Recovery and Cabot Financial are constantly being accused of buying Statute Barred debts and then chasing people for payment.

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.

Victoria Asset Finance Limited Contact Details

Phone: 02920 808 650
Address: Victoria Asset Finance, Brecon House, Caerphilly Business Park, Caerphilly CF83 3GQ
Email: [email protected]
Website: https://victoriaassetfinance.com/

References

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