When I first heard about this I could not believe how many people were affected. I am writing this because of that fact. As I started researching this, I was shocked that in this day and age, (when people hear about these types of scams all the time), that so many would still be cheated.
In this time of economic hardship more and more people are searching out short term loans and payday loans to help them get by or build up their credit. These days everything is online and unfortunately you don't always know what you're getting into. RESEARCH everything. The focus of my post is, "Sigma Solutions LLC" - they are one of the worst companies to have your information.This is how they work.
You decide to look for a loan online. You find multiple companies ready and willing to take your info. You finally find one that is one you either recognize or feel comfortable with. This initial company that you give your information to is legitimate. (usually) This initial company however is not a bank. They are not a loan service. They are a go-between. And I would go so far as to say, they are the sheep's clothing covering the wolf. The next thing you know you are approved. They found someone who is willing to give you a loan. Who would that be? Sigma Solutions LLC, of course. If you decided to do your research half way thru the loan process and have stumbled upon this blog post at that time - stop. Do not go further because the next step is getting you to sign away your rights.
If you are past that point, keep reading. The next step begins with a contract. This is something you would expect from a legitimate company. It tells you how much you've been approved for and what the interest you will have to pay back will be. It's a little high but you expect that since, after all, it's being deposited that day... The bad thing about these companies is that they make you feel like it's completely honest and helpful - their agreements are somewhere in that 5 page range and most people just skim them. The things you are skimming over would be:
1.) Saying that you "agree that you will not bring, join, or participate in any class action as to any claim, dispute, or controversy you may have against us or our agents, services, directors, officers, and employees. You agree to the entry of injunctive relief to stop such a lawsuit or remove you as a participant in the suit. You agree to pay the costs we incur, including our court costs and attorneys fees, in seeking such relief." What you can do is arbitration which is a legal technique for the resolution of disputes outside the courts, where the parties to a dispute refer it to one or more persons and by their decision they agree to be bound. It's a settlement in which a third party reviews the case and imposes a decision that is legally binding for both sides - it's a form of alternative dispute resolution...Good luck with that.
2.) You authorize them to contact you regarding your "loan" at your place of employment residence at any time up to 9:00 p.m
Other parts include that they can give your info to their "affiliates" and that you are VERIFYING ALL YOUR INFORMATION and authorizing them access to your bank account. A legitimate company would want to talk to you to have you verify it all, they do not need to since you have just verified it all electronically along w/your electronic signature and have given them permission to do as they wish all based on the false premise that they will be depositing money into your account in one business day.
After you sign this, they will take you to a new page that states they will be calling you to verify your information. This is again to make you think they are legit.
I can tell you with certainty that no money will ever be placed into your account.
I think the reason they are able to continue this scam is because so many people are too embarrassed to say anything or they feel like there is nothing they can do. There are several forums and help discussions available for these types of scams - including city support forums and warnings to report them to the FCC - whether anything comes of that I am not sure but let me tell you a few of the things I came across while trying to track down this particular "company", Sigma Solutions LLC.
1.) Their address of:
2150 South 1300 East, suite 50
Salt Lake City, UT 84106
is a CONFERENCE CENTER from which you can rent conference and meeting rooms.http://www.cloudvirtualoffice.com/locations/DetailPage.php?center_id=2146
The important thing to know here is that you can rent this space for a "virtual meeting" - no one has to physically be there. I find this odd. Also this particular address can be rented as an "office-for-a-day" at any point in time.
You know how you always hear that anything can be found online? Well, it's pretty much true. Below is the link to the agreement FROM Davinci Meetings and Conference Rooms regarding THIS ADDRESS, it is TO anyone RENTING it.http://www.davincivirtual.com/shop/message.asp?m=termserv
Here's the rental posting from Davinci:http://www.davincimeetingrooms.com/utah/salt-lake-city-meeting-rooms/319
I say it like this to make sure you understand that Sigma Solutions does not OWN or PERMANENTLY RESIDE at this address. In fact, this is who does: http://www.intermountainlegalut.com/
It's a Defense Attorney's office.
The only real location that I have been able to find for Sigma Solutions LLC, "loan company", is from someone else who stated they traced them to a location in the UK but could not pin point from there. (this was from someone on the city forum)
2.) They cannot give you their TAX ID #.
Any legitimate business will have no problem giving this to you when you ask.
3.) Their PH # they give of 1-800-620-8813 is pointless.
I called them. This was out of curiosity as well as the desire to actually get some information directly from them as to whether they are legitimate or not.
I did speak w/someone who couldn't help. English was not her first or probably even second language. I asked for someone who could help with just being approved for a loan and needing to verify some information. She said OK and that she would transfer me. I was put into a queue that rang a few times and then went to a Vmail machine - I left a message and asked for a call back. I never got one.
Bottom line - this is a scam to get your information.
Complaint reports usually state that money was taken in amounts ranging from 20 - 40 dollars. Small amts. that they state are "fees", (but they cannot tell you what for), and that a lot of people probably just write off as something they forgot to record in their checkbook.
Reports also state that these people are very violent including threats to have you put in jail and even that harm will be done to you if you do not take care of this "debt" which of course, is a lie.
If you are getting calls from 1-800-620-8813 OR 1-800-620-0371 (another 3rd party affiliated that I found out many other people were getting calls from them as well claiming the same things as Sigma Solutions LLC) REPORT THEM, CHANGE YOUR NUMBER, AND WATCH YOUR ACCOUNT. I advise closing and re-opening a new bank acct all together. It is better to be safe than sorry.
Somewhere along the lines you gave your information to someone who was affiliated with Sigma. You either checked a box saying it was OK to give out your information or you failed to un-check a box. You never know what 3rd party companies are affiliated with who and what agreements they have. You also never know the extent of the damage that will be done. Never give your information out online to anyone. http://www.scammer-alert.com/payday-loans.html
http://www.dailydollarnewsletter.com/2011/02/09/warning-payday-loan-collections-scam/
http://www.directlendingsolutions.com/scams-using-western-union.htm
http://www.howtostopdebtcollectors.com/indian-payday-loan-scam/
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20 comments:
wow thanks for the in-depth write-up. i fell for it unfortunetly by thinking i'm approved for a $200 loan. the positive news for me is I'm using a google voice phone number that i can change at any time and a prepaid debit card as a bank account so that way they cant take any money out if theres none on there.
Thanks, I'm glad it was helpful! Good luck in the future!!
I just got a payday loan thru sigma solutions & had no trouble, got my money in my account when they said I would & have not been harassed by anyone at all. Maybe they have changed their business practices?? I have had trouble with other payday loan co's in the past, but not this one.....
i got a payday loan through sigma solutions..it was for 200 dollars..they charged me 89 in interest.i was a week late on my loan..they did harass me and left threatening messages on my phone..they started taking money out of my bank account..and they continue to do so even past the real loan amount..they will not tell me the actual loan amount..i do not know if i should stop having them take money out or continue..because i do not wish to get harassed or go to court with them
If you go to court with them you will lose, you signed away your right to sue them in the agreement you signed accepting the loan, however a lawyer would know for sure how to proceed with that. As far as them still taking money out, I would immediately close that account!! I don't know about you but I could not afford them taking out above and beyond the load amt and interest. Any online company having your information is scary enough, let alone one like this with such shady and dishonest credentials. I wish you the best and hope it is all resolved quickly for you!!
I've done some research too and you are not entirely correct. So far i've found that company does pay money into accounts as i know someone who got money from them however they state that they will take the processing fee $89 each payment period unless the full amount is paid so I dont know if you can call it a scam. The scam part is with the initial point of contact who sells your details to Sigma solutions, they have your details and pose as Sigma solutions I believe.
hey i know you posted this along time ago i wish you could help me. unfortunately i fell for this, i was routed to the page that says i was approved for a loan, the thing is that i did not sign the contract i did print off the page. do you think they would still get money from me? i would really appreciate it if you can get back at me. Thanks!
Hello, I am so sorry this happened to you. I assume by now you know for sure if they have your information or not. I can guess that they did though. I would have advised you to close your accounts and change your main email account and phone number. If that wasn't possible then at least make your banks aware so they could flag your accounts for you.
I almost made a huge mistake regarding this company. I knew it was over when they wanted my checking account number and my debit card info. OMG! I am so glad that I bagged out.
Awesome! As long as you did not give them your SSN at any point, then you are safe.
Hi. I have unfortunately just fell for this. I was caught up in needing money for my daughters first birthday party and groceries for my kids to get us through til payday. They say I should have my money the following business day (tomorrow) what should I do???
When applying for a loan they ask for your personal information.Routing number,checking account number, social, home and work number, and sometimes your debit card number .If you don't want to give any of this info out,simply don't apply for loans online.Go in person to a loan place.I have done loans online and never had a problem.I've done one with this company and never had a problem.I have defaulted on my loan and be called at work and home but I agreed to that.If you can't pay the loan back just call and make payment arrangements.In my opinion this is not a scam.
The only time one will run into problems with payday loans is if they are not paid back. It's simple, pay them off as you promised or call the company few days in advance and most of the time they will work with you on repaying your loans. If loans not repaid as promised all of a sudden the company labeled as scam!
Apparently you did not read the post, unfortunately this is not a legitimate company.
My post is old however and I have no idea what the current state of this company and address are.
thanks for all the feedback though!
I have spent a lot of the time in different blogs but this is really a unique blog for me. payday loans charolett north carolina
I fell for this scam. I needed books for college and I was flat out broke. I applied for a $200 loan and was approved. I checked reviews on them and they were good but looking back, they had to be fake reviews. I filled out the information on their page and it included my SSN. When I talked to them on the phone, it got even more shady.I was terrified because they had my whole identity. They hung up after i began questioning them, then stopped answering my calls for a whole day. I put a fraud alert out on all of my accounts and closed my bank account. I called then back and told them that I did not want the loan and to delete all of my info and they seemed like they were actually going to do it, but I doubt they did. Bottom line, this is a scam and please, no one fall for it. I'm paranoid about them stealing my identity everyday now or using my SSN and messing up my credit or worse. I wish I had come across this blog sooner :-(
I am so sorry you fell for it. Please don't blame yourself, it is VERY legit looking in the beginning. Honestly, unless it is in person a at a reputable bank or credit union NEVER get a loan or advance of any kind. This scam is still around because it keeps working. You were smart to put out fraud alerts and close your accounts. The faster that happens the better. report your experience to the FTC so they have your complain on file in case anything does ever happen with your ID and you need proof/documentation. Just follow the complaint/reporting process on their website and give as much detail as you can, skip over what you can't complete.
Here's the link: https://www.ftc.gov/faq/consumer-protection/submit-consumer-complaint-ftc
I hope it helps and that you can put this behind you. What's done is done though so don't make yourself sick worrying about it. The government is well aware of these scams and will help you if something ever does happen. Just keep an eye on all your accounts and change your phone number because they WILL try to contact you and threaten you falsely and illegally.
I know this is an old post but I came across it when I was looking up Sigma Solutions. Is Sigma Solutions inc the same thing? Read through all the posts and same as everyone else, I was approved for $200 and the fee was going to be $89. When I first called the number I started to feel uncomfortable. He asked for my SSN, Routing and Checking acct numbers. Then he sent me a text where I had to login to my online banking, which I stupidly did. Then he said he would call me back but after reading all of these posts I doubt that and I’m more convinced this is a fraud.. Thankfully this account didn’t have any money in it and I was going to close it anyway. As far as the calls, I guess I’ll have to deal with them as they come.
Hi. Just came across your blog while literally in the middle of a Sigma Solutions loan app. I finished the app, but it didn't go through because it said "Invalid customer account number". I didn't know what that meant so I opened another window to try and find out. That is how I came across your blog. I'm so glad I read your post. I am always that one who tells everyone they are getting scammed, and here I am, getting scammed.
The crazy part about it is, I actually ran that through my head.. the fact that it could be a scam. But, how badly I needed that money,I didn't care. I figured, "At least I'll get this money.." And had blinders on when I should've been on point, knowing I was giving every single bit of info it takes to ruin my life.. including completely stealing my identity for more than just my close to negative bank account.
When I read your blog I definitely came back to reality and quickly stopped that loan app. Reading your post helped me realize I won't just get scammed, but, I also won't get the cash, either. Kinda like getting screwed in the @$$ without lubricant. (My apologies if you are offended by that last sentence).
So, I just want to say Thank You!
And you just gained a new reader :-)
-- UN LOCALMENTE ODIATO BEL DISASTRO
I was approved for the $200 loan, actually, been approved many many times and kept coming back to this reputable company and I got NO trouble or problem at all because I have understood there terms and conditions, There's no fee to ask questions anyway, I am very cautious in terms of my identity and bank account information I ask questions every time i need to. Yeah, it's true that they are going to ask for your SSN as they Are going to pull up your application and they will verify everything as those very nice and helpful agents was asked to do. Moving forward, to those people who asks why they need your bank account details,are you effin serious??? of course they do need to get it so they can transfer the money into your account. Come on guys, lets not just judge companies such like this who offer help to those people who needs their help.You just need to know who are legit and if you think that they're scam why calling them in the first place? Its becoz u were not approve for the loan, they are scammers? The problem here is that you dont take care of your banking activities, thats why you were denied, they are not idiots just to lend money without verifying you, of course they need to make sure that their applicants can pay them back. These companies have requirements, policies and protocols to follow...it doesnt mean that if you have an account meaning you're already approved, there's always a process guys. Regarding the fee, some people dont understand the deal, Im gonna explain this to you, loan amount is $200 and the finance charge $89 so total $289, now, if you cant pay the full 289 they will extend your due date on your next payday, they are not an installment loan but PAYDAY Loan, you need to have research first before you open your big mouth and know the difference. It was CLEARLY stated that it will not reduce the total amount of 289 when you just pay the $89...if you dont agree to it why did you took it?
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