If you are being harassed by a debt collector, it can be an extremely stressful and frustrating experience. It is particularly galling if the alleged debt that they are pursuing you for does not actually exist. Sadly, some unscrupulous agencies who use aggressive – and even illegal – practices in order to turn a profit. Transworld Systems notoriously engages in this type of shady behavior.
Fortunately, it is possible to put the brakes on their fair or illegal tactics -- and it all starts with knowing your rights and how you can enforce them.
Transworld Systems is a Washington, PA-based third-party debt collector. The company makes a profit by buying delinquent debts from creditors and then collecting on these debts - typically through a robust phone and letter campaign where they contact the consumer in an effort to extract payment. If Transworld Systems is contacting you, that indicates that you have a debt that is seriously delinquent and is likely impacting your credit score.
Yes. Transworld Systems is a legitimate debt collector. If you're being contacted by this company, it's important that you respond to any correspondence you receive - don't dismiss it under the misapprehension that the company is a scam.
Despite having a legal right to collect on debts, this company has been subject to numerous complaints.
If you have recently received a notification from Transworld Systems, also known as TSI Collections, it is important to understand that this debt collection agency has come under increased scrutiny in recent years.
Since the Consumer Financial Protection Bureau began tracking complaints for Transworld Systems in 2016, thousands of complaints have been filed by individuals and businesses alike who feel they have been treated unfairly or subjected to unethical practices when attempting to settle their debts.
If Transworld Systems/TSI is contacting you about a debt, there's a good chance that you actually owe money - this could be because you forgot about the debt or because you never received the bill. This can happen if you've changed addresses and the collector failed to update their records. There are also circumstances where the debt is not legitimate either because you aren't the one who owes or because the amount being pursued is incorrect.
Here are a few examples of when this could happen:
If a debt collection agency is trying to collect a debt that you do not believe is yours, you have the right to insist that the debt collector validate the debt. This means that they must provide evidence such as any information that substantiates their claim that you owe them money.
It is important to make this request in writing for your records, and upon receiving it, the debt collection agency must respond within 30 days with the requested documents. If they fail to provide evidence of your alleged debt, then the collections account should be removed from your report immediately.
Knowing how to protect yourself from potentially fraudulent attempts at collecting debts can help ensure that you are not unfairly held responsible for something you did not do. Even if you are behind on payments or have an outstanding balance due on a legitimate account, fighting back against unjustified collections attempts can help protect your credit score and reputation in general.
Transworld Systems, and other debt collection agencies like it, often employ aggressive tactics to collect on outstanding debts. Unfortunately, these tactics can feel intimidating and even downright illegal to unsuspecting consumers. To safeguard yourself from such practices, it is essential that you understand your protected rights under the FDCPA.
This federal law outlines what debt collectors can and cannot do when attempting to collect a debt, including but not limited to the following:
In addition to being aware of the restrictions placed on debt collectors by law, there are also steps you can take to protect yourself from Transworld System's unethical practices. The first step is to understand your consumer rights under the FDCPA; if a debt collector violates any portion of this statute then you have the right to file a complaint with both the FTC and state attorney general's office.
Secondly, if a debt collection agency contacts you then it is important that you obtain written proof of its activities - including copies of all correspondence and telephone records - so that any violations can be proven should they occur.
Transworld Systems/TSI is unlike some debt collectors who work with one or two niche industries - according to their website, the company collects for commercial B2B and B2C, educational institutions, financial institutions, healthcare providers, government organizations, and small to mid-size enterprises. Because they will vary depending on the type of debt being collected, it's important to work with an experienced attorney who can help you understand your rights better.
If you find an account in collections on your credit report from Transworld Systems/TSI Collections, it is important to take steps to get the mark removed. In many cases, debt collectors will have incorrect or false information about who owes on a debt, and it is essential to dispute the entry with the three major credit bureaus as soon as possible in order to start the investigation process.
By filing a dispute with Transunion, Experian, and Equifax within 30 days of being notified about a collection or charge off entry, you can help ensure that any incorrect or unreliable information is removed from your report. This can be done by submitting supporting documents that prove the inaccuracies of the collection effort, such as proof of payment or evidence that you do not owe any money associated with the debt.
It is also important to remember that while disputing an item on your credit report can be an effective way of getting it removed, it also means that all lenders will be notified of your dispute when they access your report. So, if you are planning on applying for credit in the near future, it may be best to refrain from filing a dispute until after you have applied for credit and received a response so as not to affect any potential outcomes.
In addition to filing disputes with each of the major credit bureaus, there are other methods available for attempting to remove a collection entry from your report. Some find success in requesting goodwill adjustments from lenders directly or utilizing services offered by credit repair companies which specialize in helping people improve their credit scores.
No matter what route you choose, it is important to remain patient as investigations into disputed entries can take some time before any changes are reflected on your report. It’s also important to fully research any company claiming they can help remove negative marks from your credit report before signing up for their services, ensuring they are legitimate and reliable before providing them with sensitive financial information.
Yes. Transworld Systems has the right to pursue legal action against you over an unpaid or otherwise seriously delinquent debt. If you only owe a small amount, it’s unlikely that the agency will go this route, but there are no guarantees if you don't take the necessary steps to address the debt – particularly if you owe a substantial amount. Ignoring the issue will only result in a default judgment against you, which can have serious financial and legal consequences.
The best course of action is to seek assistance from an attorney or other qualified financial professional as soon as possible. They can help file your answer with the court, as well as negotiate a payment plan with the debt collection agency and offer advice on how best to approach your specific situation. The sooner this step is taken, the better chance you have of avoiding litigation altogether.
At Fair Credit, we specialize in minimizing the potential challenges posed by debt collection agencies. Our experienced legal experts have decades of experience in fighting for consumer rights when it comes to financial matters. We understand the difficulties and stress associated with dealing with collections agencies like Transworld Systems, and our team is dedicated to helping people who may have been targeted by the company. Don't hesitate - contact us today for your free case review.