Who is Transfinancial Companies?
Transfinancial Companies is a debt collection agency based in Baton Rouge, Louisiana. They operate in the accounts receivable management and collections industry to recover owed amounts on behalf of their clients.
If you’ve neglected or been unable to pay a bill, and that debt has been transferred to this agency, you may find Transfinancial Companies appearing on your credit report as a collections account.
Who does Transfinancial Companies collect for?
Transfinancial Companies primarily provide their debt collection services to the healthcare industry. They work alongside hospitals and other healthcare providers to recover the funds from unpaid medical bills.
Is Transfinancial Companies legit or a scam?
Transfinancial Companies is a legitimate company. They are authorized to collect debts on behalf of their clients. However, it’s important to verify any debts they claim you owe before making any payments.
How can I remove Transfinancial Companies from my credit report?
Collection accounts can impact your credit score for up to seven years, so it’s essential to address them promptly. To remove collections from your report, start by disputing any errors related to the account with the credit bureaus.
If the information is accurate, consider negotiating a “pay-for-delete” agreement, where you offer payment in exchange for the account’s removal. Another option is to work with a credit repair service that specializes in challenging collections.
Ready to Clean Up Your Credit Report?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
Transfinancial Companies Contact Information
Address:
Transfinancial Companies
7922 Picardy Avenue
Baton Rouge, LA 70809
Mailing address:
Transfinancial Companies
PO Box 80103
Baton Rouge, LA, 70898
Phone number: (800) 611-7508 or (225) 767-5055
Should I contact or pay Transfinancial Companies?
Before contacting a collection agency, verify that the debt is legitimate and accurately reported. Credit reports can contain errors or list debts that are no longer valid. Also, be aware that making payments on a debt can reset the clock and potentially harm your credit.
The most effective way to deal with a debt collector is to work with a credit repair professional. They help remove millions of negative items every year from companies like Transfinancial Companies on behalf of their clients.
Will Transfinancial Companies sue me or garnish my wages?
While any debt collection agency, including Transfinancial Companies, has the potential to sue for unpaid debts, it’s typically not the first course of action. The primary goal of these agencies is to work out a resolution with you, such as establishing a payment plan or negotiating a settlement. Legal action often requires additional time, money, and resources, so it’s usually considered a last resort if other collection efforts are unsuccessful.
If Transfinancial Companies does choose to sue and wins the lawsuit, a judgment will be issued by the court. This judgment could possibly lead to wage garnishment, a bank levy, or a lien on your property, depending on the laws in your specific state.
Transfinancial Companies Complaints
Many collection agencies have numerous complaints filed with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you are being harassed, consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include disputing credit reporting errors and being treated fairly and respectfully by debt collectors.
Your Rights When Dealing with Transfinancial Companies
Debt collectors must follow state and federal laws. The Fair Debt Collection Practices Act (FDCPA) prohibits abusive, unfair, or deceptive practices and ensures your rights are protected:
- It is a violation of federal law for Transfinancial Companies to report inaccurate or incomplete information about you.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. They have 30 days to prove the debt is yours and the amount is accurate.
- Transfinancial Companies cannot threaten or harass you, call repeatedly, swear at you, or publicly publish a list of debtors.
- Transfinancial Companies must be honest about who they are and their purpose. They must notify you in writing and verbally that they are a debt collection agency.
- Transfinancial Companies cannot threaten to have you arrested or imprisoned for unpaid debts.
Remove Transfinancial Companies From Your Credit Report Today!
Credit Saint offers assistance with disputing Transfinancial Companies collection accounts. With over 15 years of experience, they have worked with clients to address incorrect entries on credit reports.
If managing collection accounts feels overwhelming, working with a trusted credit repair company could be a helpful step toward improving your credit.
Visit their website or call (855) 281-1510 for more details.
