In most cases, you may not need to repay Sigma Financial Group Debt, but at the same time, it is necessary to keep an eye on it, as this can enable you to prevent potential legal troubles.
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Who are Sigma Financial Group?
Sigma Financial Group is a UK-based company founded in 1973. It is well-known by the Names, including Sigma Connected Group and Commercial Credit Services Ltd.
It is worth noting that they still operate their websites and general operations in those names, as this can ensure clarity amongst their existing customers. Also, the organisation has over 4000 employees working in the UK, South Africa, and Australia.
Beating Sigma Financial Debt Collectors,
You can eliminate Sigma Financial’s debt collectors by cancelling a portion of your unmanageable debt. This is because, In the UK, there are several debt relief options available; selecting the best one could cancel some of your unmanageable debt, but choosing the incorrect one could be costly and time-consuming.
So, if you want guidance on the best course of acton based on your unique situation, feel free to reach out to our MoneyAdvisor team.
Are you struggling with unaffordable debt?
- Affordable repayments
- Reduce Pressure from people you owe
- One simple monthly payment
What do they Do?
Sigma Financial Group provides businesses with a wider variety of services, such as:
- Complaints handling,
- Debt Collecting Services
- Outsourced customer service,
- Market acquisition.
They function exactly like any other debt-collecting agency regarding their services. They will contact anyone who owes money to one of their customers and request payment. The client will pay them a fee or commission on the amount in exchange for helping them recover the debt.
Who Does Sigma Financial Group Collect Debts For?
Sigma Financial has a wider range of services, out of which Debt collection is one of the services it offers to various businesses. They especially support enterprises in the water and utility sectors, telecommunications, retail, tourism, and financial industries.
Are they Bailiffs?
Sigma Financial Group agents are not bailiffs who are known as enforcement agents in modern-day society. They are just a company that assumes control of the debt collection process before a potential court action.
Only when the debtor still refuses to pay the debt is a court proceeding followed by the use of enforcement agents necessary.
Sigma Financial Group Reviews
Sigma Financial Group also operates the Sigma Connected website, which has received troubling feedback from former and present workers. The majority of people express dissatisfaction with the working circumstances. Still, one comment caught our attention because of their debt-collecting strategies:
Never work at sigma, absolutely rubbish company, no benefits, salary was rubbish, micro managing was the most stressful part, no trust whatsoever, manager would always put me down and make me feel low
-Former Employee (Indeed review)
You must become aware that debt collection businesses are not bailiffs, as we just explained, so it is reported that they are, and the Financial Ombudsman Service (FOS) should look into this.
Did You Get a Debt Letter from them?
A debt letter from Sigma Financial is a form of written notification to inform you that the organisation is now coming behind you, representing their clients to collect their unpaid debts. This letter will also mention key information like your debt and due date. Typically this can be anywhere between a week or two.
You should be aware that the letter will keep reminding you that failure to repay the debts could result in legal issues. Which at times also can result in you paying additional fees.
And also, it is difficult to determine whether there is a real possibility or just a phoney threat to get you to pay more quickly. Although it frequently depends on how much you owe, people have been prosecuted for small sums.
Should You Pay Sigma Financial Group?
You might ask yourself whether you should give your money to sigma financial or take a chance that they won’t sue you. You can try some things initially, even though you might have to pay.
Check to determine if the debt is still collectable, and contact Sigma Financial to arrange payment.
Check That They Can Still Collect Your Debt First
Your debts cannot be enforced in court if it sorts under the Statute-Barred debt category. For that, you need to fulfil the following conditions at once.
This would mean that debt collectors are not legally allowed to chase you to recollect their unpaid debts. But keep in mind your credit history will not reset just because u received a statute-barred excuse. Your credit history will be negatively affected, and you will find hardships in taking new loans and credit cards in the future.
If you are sure that your debt is statute-barred, it would be great to reach out to Sigma Financial Group and inform them about which, as this can allow you to get rid of the debt at certain times if you are lucky.
Sending a Prove the Debt Letter
You can ask Sigma Financial Group to prove the debt if your debt has not been statute-barred. Once you reach out to them, they must provide you with a written copy of your original agreement to obtain the debt you may have defaulted on.
If they fail to provide you with it, you will not need to repay them the debt.
You can inform the judge that they ignored it as if they ignored this request and took you to court. And it can turn out as a victory for you. Sigma Financial Group may have to face huge fines or possibly grant you compensation.
Sigma Financial Group Confirmed My Debt – What’s Next?
If Sigma Financial Group shows that you owe them a debt, you will be entitled to pay it back. It’s a gamble to hope they quit pursuing you and won’t file a lawsuit. You should contact them to discuss things such as available payment options if you are not in the situation to pay off the debt in full.
Or you could use the help of debt solutions available inside the UK to find relief to some extent. But you need to fulfil certain unique conditions to get approval for each solution available.
Will They Give Up Chasing?
You might wonder whether you can avoid paying, and the debt collectors would stop coming behind you. But in reality, in most cases, debt collectors will not stop their actions. In the past, it is known that some debt collectors did chase some debtors after many years of remaining without paying off the debts.
Other companies like Lowell Group, Portfolio Recovery, and Cabot Financial are frequently accused of purchasing Statute Barred debts and then pursuing customers for payment.
Sigma Financial Connected Contact Information
| Website: | www.sigmaconnected.com |
| Phone: | 01527419107 |
| Postal Address: | In Birmingham
The McLaren Building, Birmingham, B4 7LR, UK In Redditch Grosvenor House, Prospect Hill, Redditch, B97 4DL, UK |
Key Points
- Sigma Financial Group, a UK-based debt collection company established in 1973, provides various services such as outsourced customer service, market acquisition, complaints handling, and debt collection services.
- The group collects debts for a number of industries including water companies, utility companies, telecommunications businesses, retail stores, travel companies, and the finance industry.
- Sigma Financial Group’s debt collection against are not bailiffs. Thus, they cannot legally enter your home without permission or seize your belongings.
- People receiving a debt letter from Sigma Financial Group must verify if the debt is still enforceable, potentially statute-barred, or request proof of the debt.
- There have been reviews of Sigma Financial’s practices, with claims of inappropriate and empty threats, which should be investigated by the Financial Ombudsman Service (FOS).
- Sigma Financial Group sends debt letters on behalf of other companies, stating how much is owed and when it needs to be paid.
- If the debt isn’t statute barred, one can ask them to prove the owed debt via written document. If they fail to provide evidence, you are not required to pay.
- If the Sigma Financial Group proves you owe the debt and it’s not statute-barred, it is recommended to get in touch with them to discuss payment plans.
- Sigma Financial Group is persistent with their debt collection process. Therefore, ignoring them may not be the best option.
- Anyone dealing with them can seek advice from a UK debt charity or explore other debt solutions in the UK, especially if they have multiple debts and arrears.
- Their headquarters are located in Birmingham and Redditch, UK. Contact can be made via phone or their official website.
FAQ
Yes, They are a legitimate debt collection company. It’s regulated by the Financial Conduct Authority (FCA) and adheres to its code of conduct.
Don’t panic. It’s essential to verify whether the debt is legitimate and enforceable before making any payments. You can request them to prove the debt via a letter titled “Prove the Debt”.
If they confirm your debt, you may need to arrange a payment plan or pay off the debt. However, if you believe you’re unable to pay, you can seek advice from a debt advisor.
Yes, they can take legal action if a debt is valid and you fail to arrange a payment plan or pay off the debt. This will include getting a County Court Judgement (CCJ) against you.
