What is LC Asset 2 SARL in my Bank Account? Debt Scam?

Are you trying to understand what LC Asset 2 SARL is and why it’s showing up in your bank account? Are you worried that you might be dealing with a debt collector or even a scam?

You’re not alone. Each month, this website is visited by over 12,000 people who are seeking advice on debt matters.

In this article, we’ll explore:

•  What LC Asset 2 SARL is, and if it’s a debt collection agency.
•  How to handle LC Asset 2 SARL if they claim you owe them money.
•  Ways to reduce your repayments.
•  The link between LC Asset 2 and Link Financial.
•  How LC Asset 2 SARL’s presence in your bank account affects you.

We know how scary it can be to see an unfamiliar name in your bank account. Our team is well-equipped with knowledge and experience to help you understand your rights and take the best possible action.

Let’s dive in and learn more about LC Asset 2 SARL.

Is LC Asset 2 SARL a debt collection agency?

There’s not much online information relating to LC Asset 2 SARL. That said, I searched Companies House and found that LC Asset trades as Victoria Asset Finance Limited (Company number 09502421).

Their offices are based in South London and their core business is ‘financial leasing’. The business was previously known as Asset Link Capital (No. 6) Limited’.

It all gets quite murky as there’s also an Asset Link Capital (No.7) Limited. It’s a loan provider that trades as Link Financial Outsourcing Limited.

Why is there an LC Asset 2 SARL in my bank account?

If you’ve found an LC Asset 2 SARL debit on your bank account, it could mean that one of the many debt collection agencies linked to LC Asset has taken money from you.

It could be LC Asset 2 SARL which is Victoria Asset Finance Limited. Or it may be one of the companies associated with them which includes Link Financial Ltd.

So, if you admitted owing money to any of the following companies, chances are the debt is legitimate and not a scam:

• LC Asset 2 SARL
• Victoria Asset Finance Limited
• Asset Link Capital (various numbers like 1 or 7)
• Link Financial Outsourcing

You should contact whichever debt recovery company you’re dealing with to verify they took the money out of your account!

What if you didn’t admit to owing the debt?

You should contact your bank straight away and flag the debit as a fraudulent transaction! Moreover, you should make it clear that no further payments should be made.

Then contact the Financial Ombudsman Service (FOS) and other relevant authorities that deal with fraudulent bank transactions.

How should you respond to a debt collection agency?

You should always respond to a debt collection company when they get in touch. First, they could be chasing a debt that’s deemed statute barred.

It means the money owed is not legally enforceable providing it meets specific criteria.

Second, they could be chasing the wrong person. It happens! Whether it’s a clerical error or because the actual debtor has a similar name to yours!

When the debt is too old to enforce, send a letter by registered post telling them to stop contacting you.

If the debt isn’t yours, ask Link Financial to prove it is.

Even if you owe the money, send the debt collection company a letter by registered post asking them to prove you owe the money!

It could gain you a little time if you’re struggling with your finances and need to find ways to settle the amount owed.

Should you pay Link Financial?

No. Not before you establish the debt isn’t statute barred and that you owe the money!

That said, staying in touch with Link Financial or one of their associates prevents them from taking the matter any further. You should write to them telling them exactly what you’re doing.

This includes getting them to prove the debt is yours which gains you a little time if you know it is!

Other things you should do include:

• Checking if the debt is still enforceable
• Telling them you’re in the process of seeking debt advice

Will Link Financial take you to court?

Yes. Link Financial could start legal proceedings if you don’t pay them. However, they must first send you a Letter Before Action (LBA).

The letter is a notification of the intended court action to which you should respond to. Otherwise, the matter will escalate to the courts.

A judge could pass an order for you to pay. In short, you’d have no choice but to settle the amount you owe in full or by entering into a payment plan.

If you don’t pay after a court order is issued, you’d end up with a County Court Judgement on your credit history!

Will a County Court Judgement (CCJ) harm your credit rating?

Yes. Having a CCJ on your credit history will harm your chances of getting a bank loan, credit card or even a mortgage.

Moreover, the report remains on your credit file for six years!

What can debt collectors do?

A Link debt collector has the right to contact someone about the money they allegedly owe whether they purchased the debt or not. However, their legal powers are limited!

However, they must abide by the law and the CSA Code of Practice which means there are things they can do and things that are unlawful.

I’ve listed what a debt recovery company can do below:

• Visit you at home, call you on the phone, and send you emails and texts but not excessively
• Discuss the amount outstanding with showing empathy and understanding to your personal circumstances
• Request that you pay them directly if they are acting on behalf of a client

All of the above is acceptable and should lead to a more positive outcome! Proving a field agent from Link Financial abides by the Credit Association Services Code of Practice and UK Laws!

What can’t they do?

Debt collection agencies cannot do any of the following when they get in touch with you about the money you allegedly owe:

• Force entry into your property, clamp a vehicle or seize possessions
• Visit you where you work
• Discuss the problem with your employer, a family member, friends or your neighbours
• Pretend they are enforcement agents appointed by the courts and have the same legal powers
• Use official-looking documents that appear to be court-issued
• Harass you with excessive phone calls, texts, emails etc
• Threaten you in any way
• Encourage you to borrow more money to pay what’s owed

Link Financial Services Limited must act lawfully and follow the Code of Practice when they discuss an alleged debt with you.

They must respect your privacy and your consumer rights!

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Should you ignore a debt collection agency?

No. It’s never a good idea to ignore a debt letter from a collection company. It’s far better to respond and deal with the situation because the debt might not even be yours!

Ignoring them could result in:

• The debt collection agency wins a court case against you, even if the debt isn’t yours!
• A judge could issue an order to pay and you’d get a County Court Judgment on your credit file
• An attachment could be placed on your account which results in LC Asset 2 SARL appearing on your statements!
• An enforcement officer could be appointed by the courts to visit your home and seize some possessions to repay the debt
• Fees would be added to the debt making it harder to settle

So, as you can see, ignoring a debt letter can have serious consequences which could harm your credit rating.

You’d have serious problems borrowing money, and getting a credit card or mortgage for at least six years. In short, it’s never a good idea to ignore correspondence from Link Financial or other collection agencies.

Moreover, it could cause you a lot more stress and the original money owed could increase making it harder to settle!

Do debt collectors have to prove a debt?

Yes. Debt collectors are obliged to prove a debt. In short, they must provide solid proof that you owe the money.

Link Financial can’t just say you do!

A debt recovery company must provide authenticated copies of a Credit Agreement or other contract you signed. Moreover, the original debtor or an authorised entity must authenticate the copies.

Not the Debt recovery business!

You shouldn’t admit, agree, sign or fork any money over to a debt recovery agency until they’ve sent you the solid proof you owe the money.

What if they can’t prove the debt?

You can’t be forced to pay when a debt recovery company can’t prove you owe the money. Without solid proof, a court couldn’t issue an order to pay!

As such, you won’t get a County Court Judgement recorded on your credit history for a default!

What happens when they prove the debt?

You’ll have to pay if a debt is proven to be yours. However, you should seek independent advice before you admit or sign anything with a Debt recovery business like Link Financial.

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You must be allowed enough time to discuss your situation with an independent debt adviser. It means you can determine which debt solution would suit you best.

Moreover, you could work out an affordable way to settle the money owed with the help of a debt adviser!

Debt recovery agencies must allow you the time to seek advice and determine which is the best debt solution.

Can you prevent a debt collector from contacting you?

No. You can’t prevent Link Financial or any of their other associated companies from contacting you no matter how they choose to get in touch. However, they can’t harass you with constant phone calls which is against the law.

You can, however, tell them in writing how you want to be contacted. It’s always a good idea to get everything in writing so you have a record of their demands/requests!

You should also send all your letters to Link Financial by registered post!

Can I complain about LC Asset 2 SARL?

Yes. First, file a complaint with the parent company which appears to be Victoria Asset Finance Limited. They should deal with your complaint in a timely manner.

However, you also have the right to file a complaint with the Financial Ombudsman Service (FOS). You must lodge your complaints in that order.

First to the debt recovery company and second to the FOS.

How do you get in touch with LC Asset 2 SARL?

You should stay in touch with Link Financial and any of their other associated companies to prevent a problem from escalating. I’ve listed ways to contact Victoria Asset Finance Limited below: