This isn’t a full fact find, Thrifty Family doesn’t give advice. We work with The Debt Advice Service who provides 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.
My name’s Janine, and I’m a mum of two who’s always been passionate about trying to cut down spending costs. I am now sharing as much financial knowledge as I possibly can to help your money go that little bit further.
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 asking, ‘what is LC Asset 2 SARL on my bank account?’ After all, when a payment is taken by a strange entity you don’t recognise, you’d be forgiven for thinking it could be a debt scam!
I’ve delved into who LC Asset 2 is and why they could be taking money from you. Check out the post below to find out more.
Do you have to pay LC Asset 2 SARL?
You might not have to pay LC Asset 2 SARL.
If you genuinely can’t afford your debt repayments then looking into whether you could have your written off might be just what you need.
If you want to find out whether you qualify for having debt written off or payments lowered then fill out the short form below.
This isn’t a full fact find, Thrifty Family doesn’t give advice. We work with The Debt Advice Service who provides information about your options.
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.
Is it a legitimate debt recovery company?
It’d be fair to assume that all the businesses listed above are linked and that LC Asset 2 SARL is part of the ‘group’. As such the debit from your account refers to a transaction to a debt recovery company.
In short, LC Asset 2 SARL is probably a debt recovery company and judging by online forum reviews, they collect debts for leading banks amongst other leading industry clients!
Can you lower your repayments?
If you’re struggling to pay back your debt, then you might qualify for a debt solution. Some solutions lower your monthly payments while others write off a portion of your debt.
To find out whether they could work in your situation, hit the button below.
Yes. It appears that Link Financial and LC Asset 2 SARL are connected. The waters are pretty murky though because so many other companies seem to be associated with LC Asset 2 SARL too.
Who uses LC Asset 2 SARL?
Again, it’s hard to find much information on who uses LC Asset 2 SARL debt recovery services. That said, they have or still collect from leading financial institutions like Lloyds!
Other clients may include:
Scottish Power
Npower
First Utility
The DVLA
Things don’t get clearer as some people receive debt letters from Link Financial, a debt collection company which appears to buy debts from LC Asset 2 SARL.
Check out what happened to one person who was contacted over an alleged debt:
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.
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!
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!
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.
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.
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.
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!
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!
Will a debt collector give up chasing you?
No. Debt recovery companies are notoriously persistent. They rarely give up chasing debtors and will do their utmost to get paid. In short, many of them are known to use unethical tactics which are unlawful, to say the least!
Do debt collectors inform credit reference agencies?
Yes. Debt recovery companies like Link Financial can inform credit reference agencies of any and all defaults you make on payments. It’d harm your credit rating making it hard to get a credit card, bank loan or mortgage!
Will it affect my credit report?
Yes. If Link Financial Debt Collection purchases a debt and you don’t settle the amount owed, the report would appear on your credit report!
Also, the same is true if you agreed to pay and you don’t have enough funds to cover an LC Asset 2 SARL on the bank account payment that’s due.
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:
By phone
02920 808 650
In writing
Victoria Asset Finance, Brecon House, Caerphilly Business Park, Caerphilly CF83 3GQ
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.
Where can I find free debt advice in the UK?
You should contact a debt helpline if you need advice and you’re experiencing financial hardship. There are several leading charities that provide free debt advice.
Their advice could be essential when negotiating a payment plan with Link Financial.
Lastly, what is LC Asset 2 SARL in my bank account?
You may have asked the question, ‘what is LC Asset 2 SARL on my bank account statement’ and who authorised the debt?
You’d be right to question whether it’s a scam or legit because many people do!
However, if you entered into a payment plan with Link Financial Limited, chances are the SARL debit refers to them!
You should contact your bank immediately if you didn’t admit to owing the debt and you didn’t enter into a payment plan with any of the debt recovery companies associated with Link Financial Outsourcing Limited.
If the debit proves fraudulent, report the matter to the authorities and make sure no future payments leave your account!
My name’s Janine, and I’m a mum of two who’s always been passionate about trying to cut down spending costs. I am now sharing as much financial knowledge as I possibly can to help your money go that little bit further.
How to Beat LC Asset 2 SARL debt 