If you checked your credit score or applied for credit and found out that Transworld Systems was on your report, it’s probably not a good sign.
Transworld Systems Inc. is a third-party debt collection agency that can be challenging to deal with, especially if they are calling you often in an attempt to get a payment from you.
When an account gets sent to a collection agency they may report it to the major credit bureaus.
Once it ends up on your credit report, it could significantly lower your score.
Removing a company like Transworld Systems Incorporated from your credit report may be challenging but it’s not impossible.
In this article, I’ll be explaining more about how to understand your rights and options against debt collection agencies along with how to remove Transworld Systems Inc. from your credit report.
Is Transworld Systems Legitimate?
The first question you may ask yourself when you receive a call or letter in the mail from this company is ‘is Transworld Systems legitimate?’
Unfortunately, there are some debt collection scams out there. It’s important to always do your due diligence before you talk to a company or send them any money.
When it comes to Transworld System Incorporated, they are a legitimate debt collection company. Transworld Systems Inc. has been around since 1970 and has over 600 employees.
The company is not currently accredited by the Better Business Bureau but they do have a ‘B’ rating on their profile.
They collected $725 million for their clients in 2019 alone and have 29 service locations across the country.
Here is the company’s contact information including their website and phone number:2235 Mercury Way Ste 275Santa Rosa, CA 95407-5413866-545-9191Website: https://www.tsico.com
What Kind Of Company Is Transworld?
Transworld Systems Incorporated is one of the largest debt collections agencies hired by companies to recover consumer debt.
If your debt has been sent to them, they will contact you either by phone or mail to attempt to collect the debt.
The company participates in a debt collection tactic called skip tracing in an effort to locate the whereabouts of debtors who have relocated or are simply not answering their calls or letters.
Overall, Transworld Systems Collection has low ratings among consumers in terms of their fact-checking abilities, level of customer service.
There have been reports of them taking aggressive measures to collect debt like making daily calls for several weeks straight along with sending wage garnishment letters to debtors.
Transworld Systems Incorporated may sound like a challenging company to deal with, but it’s important to know your rights as a consumer and how you can stop the calls and remove this company from your credit report.
How To Stop Transworld Systems Inc Calls
📰 New Federal debt collection regulations will take effect on Nov. 29, 2021. The new rules will have a far-reaching impact on the debt collection industry. If you have delinquent debts or accounts in collection these rules will affect you.
Learn more about Regulation F and what will it mean for consumers with debts.
Getting calls day and night from debt collectors like Transworld Systems Collection?
Know that you do have rights and can stop these calls.
All debt collection agencies in the U.S. must comply with the federal law under the Fair Debt Collections Practice Act or the FDCPA.
These laws were put in place to avoid situations where companies like Transworld Systems Incorporated from harassing people as they try to collect a debt.
Under the FDCPA, debt collection companies must:
- Refrain from calling you before 8 a.m. and after 9 p.m.
- Not call you at work if your employer doesn’t approve of the calls (most don’t)
- Not harass you or lie to you when trying to collect a debt
- Stop calling you if you request in writing that they do so
You should also know that debt collection agencies can’t make any threats or charge you more than you owe. Knowing that you won’t have to deal with calls day and night should sound like a relief.
However, it won’t get rid of Transworld Systems Inc or a negative mark on your credit
A negative mark can remain on your credit report for up to 7 years and could lower your score by as much as 100 points.
Once you know your rights and what TSI Collections can and can’t do, it’s time to focus on removing them from your credit report.
How To Remove Transworld Systems From Your Credit Report
Debt collection agencies make mistakes all the time. They are notorious for having the wrong information which may cause people to end up paying on a debt that’s not theirs.
If you have a common name, you could easily get contacted by a company like Transworld Systems Incorporated and even see a collection account show up on your credit report. Unfortunately, debt collection companies’ primary concern is getting the debt repaid and they may even assume that you aren’t aware of your rights under the Fair Debt Collections Protection act.
Get Your Debt Validated
The first thing you should do is validate your debt. This means Transworld Systems Debt Collection has a legal obligation to send documents verifying that the debt is yours which includes stating who you owed originally and what the exact amount is.
Going through the debt validation process ensures that you won’t get stuck dealing with a debt that you actually don’t owe.
It helps collection agencies be accountable for their taking ownership of your balance and weed out any administrative errors that may have been made.
Generally, you’ll want to request validation with the first 30 days of TSI Collections contacting you.
However, you can still try to request validation even after that time has passed.
Make sure you request validation in writing and don’t just mention it over the phone.
File A Dispute Against TSI Collections
If your debt is unable to be validated or if there is an error in the documentation that TSI Collections provides, you’ll want to dispute the debt to get it off your credit report.
The best way to file a dispute is to do it in writing by mailing in a request. The FTC clearly outlines how to file a credit dispute with each of the bureaus and if you need a sample dispute letter, you can find that here.
Be sure to clearly explain what you’re disputing and including copies of your proof. Send your dispute letter via certified mail.
Transworld Systems Incorporated must either disprove your dispute claim in 30 days or make corrections to your credit report and send you copies of this correction.
If you request, the debt collector must send notices of any corrections to anyone who receives your credit report in the past six months.
Keep in mind that filing a dispute if the debt is in fact yours won’t do anything. If the debt is yours, consider taking this next action step.
Negotiate A Pay For Delete
Paying off your account will not result in the removal of the negative mark on your credit report.
Transworld Systems Inc Wilmington DE has no obligation to remove the negative mark from your credit unless you negotiate a pay for delete agreement.
With a pay for delete arrangement, you are essentially saying that you will pay off the balance and when you do, Transworld Systems Inc. will remove the negative mark from your credit.
This is the best-case scenario of course, because getting the negative mark removed from your credit report can result in an increase in your score.
Plus, your credit will look better to lenders when you try to apply for credit in the future.
Some debt collection agencies will say that they don’t do pay for delete agreements but it is worth a try.
If Transworld Systems does agree, make sure you get it in writing.
Don’t make a payment until you have written proof that the negative mark will be removed after you make the final payment on the debt.
You may want to work with a credit repair company that can help you negotiate and even pay back a smaller percentage of the debt to settle your account.
Also, be sure to follow up by checking your credit report one to two months after making the final payment to make sure the negative mark was removed.
Transworld Systems Lawsuit
One of the biggest worries you may have when dealing with a collections agency is wondering if they will sue you for the balance you owe.
Filing a lawsuit against the borrower is one of the most aggressive steps a company like Transworld Systems Inc Wilmington DE can make.
Not all debt collection companies exercise this option. In fact, there’s a statute of limitations on some types of debt that prevents a company from being able to sue you if the balance is too old.
However, Transworld Systems Inc states on their website that they have an Attorney Network that helps protect creditors’ rights when collecting debt.
Their attorneys tackle high-balance accounts and leverage a litigation strategy to collect the debt so this means you may be legally ordered to repay it if you don’t negotiate a plan.
Even if your balance is low, you still may not be off the hook when it comes to this company’s aggressive debt collection tactics.
One person claimed Transworld Systems sent a wage garnishment letter to their employer for a $2,390 balance.
To avoid a situation like this, deal with Transworld Systems early on by using the steps mentioned in this article and keep record of all communication in writing.
Free Yourself From Transworld Systems Incorporated
Transworld Systems will not go away on its own. Follow the steps and guidelines in this article to help you remove this debt collection company from your credit report so you can start repairing your score.
Understand your acts under the Fair Debt Collections Protection Act and get organized so you can verify the actual balance you owe (if anything) and who you owed it to originally.
From there, take steps to communicate with Transworld Systems or work with a credit repair company to remove the negative mark.