How to Remove TransWorld Systems From Your Credit Report
A good credit score allows you to get the better rates on car or home loans to name a few. If you fall into hard times, inability to pay your credit card bills or student loans can result in your debts being transferred to a debt collection agency.
Transworld Systems, Inc or (TSI) is a well known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts.
They just acquired Alltran Financial Services in 2020. In fact, they are a multifaceted company that can be a part of the debt collection process in the early stages (pre-charge of recovery) or the post off collection stage, serving as a debt collection agency
With over 50 years of experience and a recovery record of about $6 billion in accounts receivable management for 60,000+ clients in the last decade, discovering Transworld Systems Collection on your credit report is never a welcomed situation.
Especially when credit reporting agencies doc your score up to 50 points. In other words, they are an aggressive company, that finds a way to get their client the money owed to them.
That said, it’s important to make sure you remove any negative entries added by Transworld Systems, such as collection accounts or charge offs.
Owing to the recent unprofessional harassing phone calls and ruthless practices of many collection agencies, reading this article will help you not only deal with Transworld collectors but also remove them from your credit report.
Table of Contents:
- Know Your Rights with Transworld
- Ways to Remove Transworld from Your Credit Report
- Need Help? Have a Professional Remove the Collection
Know Your Rights With Transworld
First of all, if you have started to receive collection notices from Transworld, either by mail or phone, don’t write it off as a scam and don’t panic.
In addition to making threats, this debt collection agency also might tell you that if you pay off the debt in full it will be removed from your credit report.
Not only is this untrue, but the debt they are attempting to collect might not even be yours! Under the FDCPA Act, you are legally entitled to contact the debt collection agency and demand proof of your debts. If they are unable to provide them, you are NOT entitled to pay that collection.
According to the CFPB (Consumer Financial Protection Bureau) and the BBB (Better Business Bureau), TSI or www.tsico.com has had over 5,000 (CFPB) and 300 (BBB) complaints filed with the Federal Trade Commission stating inaccurate reporting and even threatening legal actions they are not legally allowed to follow through on.
Numerous complaints state the company left over 25 voicemails on one customer’s phone alone in attempt to collect a debt. Other complaints claim TSI threatened wage garnishment or property seizure, both of which they could not do.
Despite these complaints, Transworld has been in business since 1970 and has been awarded an A+ by the Better Business Bureau.
How Can I Remove Transworld From My Credit Report?
Many times collection agencies have inaccurate information about who really owns a debt they are attempting to collect.
Therefore, it’s extremely common that they have the wrong person, and this person unknowingly pays a debt that isn’t theirs. Unfortunately, collection agencies don’t care as long as they get paid.
Taking this into consideration, one of the first steps to take after being hit with a collection or charge off the entry you don’t recognize is opening a dispute with the three credit bureaus, Experian, Equifax, and Transunion.
The credit bureaus have 30 days to investigate the dispute. While the dispute investigation is going on, continue on with the following steps. Make sure to follow through, because credit agencies can turn a simple collection into a judgment, legally garnishing wages or your bank account, you will be required to pay the full debt as well as legal fees.
One technique you can use to start the removal process of Transworld Systems from your credit report is to request that they validate the debt.
Provided by the Fair Debt Collection Practices Act, you have the right to demand debt validation from a collection agency. Debt validation will require that they provide appropriate documents that state the debt is indeed yours.
You can check out my sample debt validation letter to get an idea of how to write this letter.
Once you sent your debt validation request, the collection agency has 30 days to provide the documentation that proves the debt is yours.
If they are unable to provide such documentation, the negative entry will be removed from your credit report.
Make Payment to Remove Entry
This step can be taken if you don’t succeed with the steps mentioned above.
The goal here is to offer Transworld Systems payment and in exchange, they agree to remove the collection from your credit report. Most of the time this will work, but of course, you need to have the money to pay the debt in order for this to work.
When you go this route, make sure you get everything in writing, and again, don’t make any arrangements over the phone.
If the entry hasn’t been removed within 30 days of you making the payment, give them a call and remind them of the agreement.
Have a Professional Remove Transworld Systems
Lastly, having a professional handle Transworld is usually the quickest way to get negative entries removed, and it’s worked many times for me (and my readers).
For this, I suggest you check out Lexington Law. They’ll take care of you. Check out their website.
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Avoid Being Fooled by Transworld Systems
The first thing to know about working with any debt collector is to not make any arrangements solely over the phone, make sure the arrangement is completed in writing. If you can, try to settle with the original creditor. If that’s not possible, let’s look at another option.
It is a good idea to send any communication with this first party collection agency through priority mail, requiring a signature as proof of delivery. Their contact information is PO Box 15630 Wilmington, DE 19850 after formerly being a California company, located in Santa Rosa.
Because collection agencies such as Transworld Systems many times assume that you do not know your rights under The Fair Debt Collection Practices Act, they often employ questionable tactics in their debt collection process. Do not be fooled and simply understanding your rights.
In addition to not being allowed to harass you, debt collectors are restrained from:
- Persistently contacting you after you notify them to stop.
- Calling you before 8:00 A.M and after 9:00 P.M.
- Pushing hard for debt collection after your request to validate the debt.
- Making arrest and legal threats such as wage garnishment or property seizure.
- Employing foul language.
- Threatening you with blackmail such as using false credit score and report information.
- Contacting you at work.