If you are being contacted by a third party debt collection company, and you were expecting to deal with Sigma Red, they might have sold your debt to another agency. Why is a third party debt collection agency contacting me? Make sure you talk to a debt advisor, as they may be able to help you wipe off a large amount of your debt and avoid a court summons. If you can’t and the declare you need to, then they may send bailiffs to your property.Īs stressful as this sounds, it can be avoided as long as you prepare in advance and seek the debt advice you may require. This is where the court will decide whether you need to pay money to the debt collection agency or not. Instead, the most that debt collection agencies can do is summon you to a county court using something known as a CCJ (County Court Judgement). Unlike bailiffs, debt collection teams cannot enter your home without permission and take your property to compensate for the lack of debt payments. What legal powers do they have over me?ĭebt collection companies, such as Sigma Red, legal powers are slightly different from bailiffs, as they are regulated by the FCA. Who knows, your report may be the final one they need to shut down an immoral agency. This means any intimidations tactics and immoral actions will not be tolerated. If they break any of these rules and regulations, then you should report their conduct to the Financial Conduct Authority and the Financial Ombudsman.Ĭompanies like Sigma Red that are regulated by the FCA must abide by these regulations, otherwise, they run the risk of their agency being shut down. They are regulated by the Financial Conduct Authority, FCA for short, and therefore must act in accordance with the regulations put forward by them. Are they a legitimate debt recovery company authorised and regulated in the UK? If you live within the United Kingdom and you have ever owed a debt, you may have already had dealings with Sigma Red. They have headquarters in both Worcestershire and Birmingham, with call centres directing you to the applicable one suited to your inquiries. This means they may lawfully operate throughout the entirety of the UK. Sigma Red Debt Collection is based and registered in England and throughout the United Kingdom. Where are Sigma Red Debt Collection based? This is because they collect for a range of different clients and people. If you have ever dealt with a Scottish power supplier or telecommunications company you may have already had dealings with Sigma Red. They may also collect debt on behalf of their clients, offering collection services to track down any debt that may be owed. Sigma Red are a debt collection company that will purchase debt from third part clients in an attempt to make money from the interest that gathers. 12.5 Do I need to send a ‘Prove It’ letter?.12.4 Will Sigma Red stop pursuing me for debt if I ignore them?.12.3 Can Sigma Red collectors enter my property without permission?.12.2 What happens if I don’t pay a debt collection agency?.12.1 How do I deal with Sigma red debt collection?.11 Up to 85% of your debt could be written off!.10 Before you pay seek IVA debt advice!.9.2 Check if you really owe a debt collection company money.8 What if I can’t afford to pay back a debt?.
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7 Why is a debt collection agency contacting you?.
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5 Why is a third party debt collection agency contacting me?.4 What legal powers do they have over me?.3 Are they a legitimate debt recovery company authorised and regulated in the UK?.2 Where are Sigma Red Debt Collection based?.