Who is Transworld Systems?
Transworld Systems is a debt collection agency with numerous locations throughout the US. You may see them listed on your credit report as a collections account.
Transworld Systems, Inc (TSI) may appear on your credit report as any of the following entries:
- transworld collections
- transworld inc
- transworld sys inc
- transworld systems debt collection
- tsi co
If you recently applied for credit and got denied, or pulled your credit file and were surprised by one or more negative entries from Transworld Systems, you’re not alone. But you don’t have to sit idly by and wait years for your credit to slowly repair itself.
Who does Transworld Systems collect for?
Transworld Systems collects delinquent debts for educational institutions, financial institutions, healthcare providers, state and federal government organizations, and other small and medium-sized businesses.
How can I remove Transworld Systems from my credit report?
Collections can hurt your credit score and remain on your credit report for up to seven years regardless of whether you pay it or not. Unfortunately, paying the collection could even lower your credit score.
However, it is possible to remove a collection account from your credit history before seven years.
(Debt collectors prefer that we didn’t tell you this, but it’s something you should know.)
Lexington Law Firm is a credit repair company that helps people fix their credit.
In addition to collections, Lexington Law will help you challenge (and possibly remove) other inaccurate information from your credit report. These items include inquiries, late payments, charge-offs, foreclosures, repossessions, judgments, tax liens, and bankruptcies.
Call Lexington Law now to learn more: (800) 220-0084
Transworld Systems, Inc. (TSI) Contact Information
Transworld Systems, Inc.
500 Virginia Dr Ste 514
Ft Washington, PA 19034-2707
Transworld Systems, Inc.
PO Box 15630
Wilmington, DE, 19850
Phone number: (877) 865-7686 or (877) 282-1250
What to Know About Transworld Systems
Before you dive into a step-by-step guide to getting your negative entry removed, first understand why you have one from Transworld Systems in the first place.
Transworld Systems is a real, legitimate collection agency. In fact, they are one of the largest debt collectors and accounts receivable management companies in the world. Transworld Systems is hired by companies to assist them in debt recovery of past due accounts.
They’ve been in business for more than 50 years. In the last ten years alone, the company has recovered about $6 billion for its clients. That may seem like a lot of muscle — but not when consumers know how to react.
If you have an open negative account with them and are being actively hounded by Transworld Systems, you can expect to receive harassing phone calls and letters in the mail. This kind of aggressive behavior is why it’s vital to do a little research before you respond to them in any way.
Should I contact or pay Transworld Systems?
Nothing good can come from speaking to a collection agency on the phone. And making payments on the collection account will reset the clock. So instead of helping your credit, it could make it worse. Of course, there are times when it’s best to just pay the collection account, especially if it’s new and you’re sure that it’s legit.
The best way to handle this is to work with a professional credit repair service. They have deleted millions of negative items from companies like Transworld Systems for millions of clients nationwide.
And they can help you too.
Will Transworld Systems sue me or garnish my wages?
It’s possible that a debt collection agency will resort to litigation and seek wage garnishment, but if you work with a law firm like Lexington Law, you have nothing to worry about. They will help you dispute the collection account and possibly remove it from your credit report. It’s also quite possible that you may never hear from or have to deal with TSI again.
Call Lexington Law to learn how they can help you avoid lawsuits and remove negative items from your credit report that will significantly improve your credit scores.
Some states allow wage garnishment, while others do not. It is important to note that if you are in a state that does not allow wage garnishment, it is illegal for a debt collector to threaten to garnish your wages.
It is also illegal for Transworld Systems to make any claims they cannot or will not follow through on – this includes threatening to sue you or foreclose on your home.
Transworld Systems Complaints
Most collection agencies have numerous complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most consumer complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you find yourself facing any of these situations with a debt collection company, you should also consider filing a complaint.
Despite the horrible customer reviews, Transworld Systems currently has an A+ rating with the BBB.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). Lexington Law knows that you have rights, and TSI does too.
How Collections Affect Your Credit
Missed payments over several months will cause a hit to your credit score. With a collection account on your credit report, it will reduce your ability to qualify for new credit even more.
Debt collectors often buy and sell debt from one another, so this can lead to multiple collections showing on your credit reports for the same account.
When this happens, if you don’t dispute the accounts with the credit bureaus and get them all removed, they will harm your credit score.
Your Rights When Dealing with Transworld Systems, Inc.
There are strict regulations about what debt collectors can and cannot do in the United States. For example, the Fair Debt Collection Practices Act prevents the use of abusive or deceptive tactics to collect a debt. In addition, the FDCPA and other federal laws provide you with many rights to ensure that collection agencies don’t take advantage of you. In particular:
- It is a violation of federal law for Transworld Systems to report inaccurate or incomplete information on your credit report.
- You have a legal right to request debt validation on an alleged debt. Send Transworld Systems a debt validation letter. By law, they have 30 days to prove to you that the debt is really yours and the total amount is accurate.
- Transworld Systems may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- Transworld Systems must be honest about who they are and what they are attempting to do. They must notify you that they are debt collectors both orally and in writing.
- Transworld Systems cannot threaten to have you arrested, and they are not allowed to threaten to take legal action if they have no intention of doing so.
More Tips on Dealing with Transworld Systems, Inc.
Avoid the phone. NEVER talk to a debt collector on the phone. The less they know about you, the better.
Politely tell them it’s your policy to deal with everything in writing. Request a letter with the original debt information and then hang up. If they keep calling, send them a cease & desist letter.
Record their phone calls. If you must deal with a debt collection company on the phone, record them. Thirty-five states and the District of Columbia allow you to record your phone conversations secretly.
In the other 15 states, you can record with the other party’s permission. If you tell the debt collector you are going to record, and they keep talking, that’s considered giving permission. They will usually hang up.
Don’t believe what they say. Debt collectors are known to make false threats, lie, and tell you whatever they need to tell you to get you to pay the debt.
Don’t attempt to hide money. Hiding money or assets from a legitimate debt collection company is illegal if you owe them. However, it’s also best to avoid giving access to your bank account or credit card information.
Don’t apply for new lines of credit. It’s also considered fraudulent to apply for new lines of credit if you are unable to pay your current creditors.
Don’t ignore them. You can do things on your terms, but ignoring the situation will not make TSI go away. Ignoring them sets you up for a possible lawsuit.
Know Your State’s Statute of Limitations. Each state has a statute of limitations on debt. Once your debt reaches a certain age, it is considered “zombie debt,” and you are no longer legally obligated to pay it. The age limit varies from state to state, but it’s typically around 4-6 years.
A debt collection company is still allowed to contact you about these debts, but they can no longer sue you for them, and you are not required to pay them.
Remove Transworld Systems from Your Credit Report Today!
Lexington Law Firm specializes in disputing Transworld Systems collection accounts with credit reporting agencies. They have over 18 years of experience and have removed over 7 million negative items for their clients in 2020 alone.
If you’re looking for a reputable company to help you with collection accounts and repair your credit, we highly recommend Lexington Law.
Call them at (800) 220-0084 for a free credit consultation. They have helped many people in your situation and have paralegals standing by waiting to take your call.
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