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Dealing with debt can be hard enough, but when you are constantly harassed by collection agencies; that can make the burden even worse.
If you do not know, debt collection agencies are companies that help recover past-due debt for lenders.
Unfortunately, some of these agencies can get intrusive when it comes to collecting payments, specifically Transworld Systems.
Keep reading to find out how to remove Transworld Systems (TSI) from your credit report and to put an end to the harassing calls.
What is Transworld Systems?
Transworld Systems, commonly known as TSI, is one of the largest debt collection agencies in the U.S.
With over 29 service locations, 65+ compliance specialists, and 5000+ ARM specialists, Transworld Systems, Inc is here to stay and has cemented themselves as a leader in debt collection.
When you are contacted by TSI, this means that they have become aware of the past-due debt lingering on your account. After this, it is not unusual that TSI will pop up on your credit report as a “collections account”.
Transworld Systems may also appear on your credit report as:
- Transworld Systems
- Transworld Systems Inc
- Transworld Collections
- Transworld Financial
- Transworld Systems Debt Collection
When a collection account is present on your credit report, this can be very detrimental to your credit score.
So, you need to move quickly and remove a collection account from your credit report.
Is Transworld Systems Inc (TSI) a Legitimate Company?
With over 50 years of experience in the debt collecting industry, Transworld System is a legit company that has the results to back it up.
In 2019 alone, TSI collected $725+ million. Their debt service portfolio is $20+ billion, and they maintain 35,000+ client relationships.
Transworld Systems is not a small business or a family-owned shop. Instead, they are one of the most well-respected and aggressive debt collectors in the United States. They are HIPPA compliant, FISMA compliant, and DSS compliant.
So, if TSI is contacting you, then you better take note. It is never a good thing.
How to Remove Transworld Systems from Your Credit Report (Step-by-Step)
We get it. This can sound quite overwhelming but don’t worry because we have come equipped with several ways to help remove TSI from your credit report.
1. Hire a Professional Credit Repair Company
One option that can help remove TSI from your credit report is by hiring a credit repair company. The term credit repair refers to when a company works toward getting unwanted information off your credit report. In your case the credit repair company will contact TSI or credit bureaus, on your behalf, to get the “collections account” off or modified on your credit report.
The average cost for the best credit repair companies varies, so make sure to research the best rate before committing to one. If you need help starting, we recommend Credit Saint. They are one of the best credit repair services, affordable, and know-how to remove Transworld Systems from your credit report.
>> More: Credit Saint Review
2. Requesting Debt Validation
If you believe the debt that you are accused of, isn’t actually yours, then this might just be the perfect solution.
Requesting a debt validation is your right (under the FDCPA) to make TSI verify that the debt belongs to you. Collection agencies incorrectly assign debt all the time, it’s normal, considering we’re all prone to errors.
This is why it is your responsibility to ensure that you are not getting charged for the same debt twice or paying someone else’s debt.
But requesting debt validation is time-sensitive. You only have 30 days after initial communication to request debt validation.
After those 30 days are up, TSI is no longer obligated to verify your debt. Yet, if TSI refuses to respond to your verification request, then they are not allowed to contact you or list a collection on your credit report until they have.
3. Negotiating a pay for delete
Negotiating a pay for delete essentially means that you are willing to settle your debt at a negotiated price.
To do this, you have to first draft a letter asking TSI to remove the negative information from your credit report. In exchange, you will pay the price that you both have agreed on.
Usually, credit agencies don’t force you to pay the debt in full. This is because they purchase the debt from the original lender at a fraction of the balance that is due.
Therefore, if the amount that you are offering is higher than the amount that they paid for it, they are most likely to agree, regardless if you are paying the amount in full or not.
TSI Pay-for-Delete Tips:
- First, you need to become aware of your financial situation; thus, you need to know what you can afford to pay and what you cannot
- You also need to know how this payment will impact your lifestyle. You may need to draft a new budget plan to accommodate the additional money that will be exiting your bank account.
- When deciding on your amount, make sure it is much lower than what you can afford. You always want to have room to raise your price in case TSI rejects your offer
As you finally decide to draft your pay for delete letter, make sure to keep it detailed, yet concise.
Do not include unnecessary background information, instead, make sure you are detailed about your payment amount and payment dates.
If you are still unsure on how to draft your letter, don’t be afraid to check out some sample letters on the CFPB website.
Make sure to submit your letter via certified mail. If Transworld Systems agrees, then draft up a legal contract and make sure both parties sign it.
This leaves a “paper trail,” which is vital in case you need to escalate your issue to the CFPB or to the legal system.
4. Goodwill Deletion
A goodwill deletion is a bit different from pay for delete letter, but the purpose remains the same. When you send a goodwill letter, you are explicitly reaching out to TSI to ask them to remove the negative information from your credit report.
Though you are not necessarily settling your debt because you are not providing payment in exchange. Instead, you are asking to remove the information out of kindness and understanding of your situation.
This method is recommended for people who experienced an unexpected job layoff or a family emergency. Now, this method is not always recommended, but still remember it doesn’t hurt to ask.
And it is important to note, that Transworld Systems does not have to honor a goodwill deletion if they do not want too. It is entirely up to them. They are doing you a favor.
To tie it all together, the best strategy is to hire a credit repair company. They will ensure all information is accurate, up to date, and they will protect your consumer rights. Above all, they will remove Transworld Systems from your credit report.
Transworld Systems Consumer Complaints
Though TSI already has over 5,000 complaints filed with the CFPB, most of which are about a lack of communication and billing issues.
One complaint from BBB says, “While attempting to dispute an errant insurance billing issue, I was completely unable to contact TSI to advise them on the status of the debt. Using the phone number listed in their communication with us, I was put on hold for 3-5 minutes waiting for a representative. But was then told instead to leave a message. BUT was then told that their voicemail box is full. This is a debt collection agency; their entire purpose is communication between parties. It is unethical for an entity to demand money, and then refuse to make themselves available to discuss.”
As you can see, Transworld is known for having several problems with their ability to communicate and set proper billing. This reaffirms our belief that the best thing to do is to hire a credit repair company.
If TSI violates any of the rights stated above, feel free to contact the:
- FTC (Federal Trade Commission)
- CFPB (Consumer Financial Protection Bureau)
- BBB (Better Business Bureau) and file a complaint
>> More:How to Fix Your Credit
How Do I contact Transworld Systems (TSI)?
Below is Transworld Systems, Inc (TSI) contact information. Remember, the best thing to do is to contact them through the mail.
Transworld Systems Contact Information:
- Mailing Address: PO Box 15630 Wilmington, DE, 19850
- Phone Number: 1-877-865-7686
Frequently Asked Questions
Who Does TSI Collect Debt For?
Transworld Systems Inc collects debt for Fortune 100 brands, National Health Providers, Regional health Providers, State and Local Governments, Financial Institutions, small businesses, and medium sized businesses.
They have a diverse set of clients who routinely hire TSI to collect debt.
Does Transworld Systems Inc report to Credit Bureaus?
A common question asked when it comes to TSI is if they report to credit bureaus. The answer is yes, they report to all three credit bureaus but only at the request of their client (the original debt holder).
However, it is common for debt collectors to report to the credit bureaus immediately. It is part of their tactics to get you to pay them money.
They will do whatever is necessary to take your money. After all, they are a business and need to generate revenue.
Can you Remove Transworld Systems Collection Accounts?
Yes, it is possible to have this removed from your credit report, try using one of the four ways (credit repair, debt validation, goodwill deletion, or pay-for-delete) discussed to assist you with removing negative documentation on your credit report.
Whatever strategy you choose, make sure it aligns with your financial goals. The most important thing is removing Transworld Systems from your credit report.
Will Transworld Systems Sue me or Garnish my Wages?
While a debt collector is legally allowed to sue you, it is rare. Unless you owe thousands of dollars, a company like Transworld Systems will not sue you or garnish your wages. After all, civil litigation is an expensive endeavor.
If you are worried that TSI will sue you or garnish your wages, feel free to let go of that anxiety because it is not common. Still, just to stay safe, most people contact an attorney or hire a credit repair company before this happens.
Know Your Consumer Rights
Before taking any action towards removing TSI from your credit report, it is important to become aware of the rights that you hold as the consumer.
Most debt collecting agencies will try to take advantage of you, which can leave you in sticky situations.
Luckily, the Fair Debt Collection Practices Act (FDCPA) protects you from predatory debt collectors.
Debt collectors cannot:
- Threaten you with violence or arrest
- Call you if you have already asked, in writing, for them to stop
- Call you before 8:00 am or after 9:00 pm
- Call family members or friends and reveal that they are debt collectors
- Call you at work if your employer does not allow it
- Lie to you about who they are and what you owe
- Call you at a time that you stated was inconvenient
- Address you with profanity
Bottom Line: How to Remove Transworld Systems from Your Credit Report
All in all, do not get too frightened if you see TSI on your credit report. Just remember these tips so you can handle everything the right way and stay risk-free.
Take control of your credit report today, so your credit is not damaged. Remember, a low credit score can hurt your chances applying for a loan, opening a checking account for bad credit, or getting a credit card.