Transworld Systems On Your Credit Report?

There is no denying that our credit reports signify our financial sovereignty, freedom, and confidence. This is why seeing Transworld Systems, a debt collection company, on a credit report can be disconcerting.

If you are experiencing countless messages from Transworld Systems, there are a few ways to remedy this situation. Here is what you need to know about removing Transworld Systems from your credit report, revitalizing your credit score, and gaining financial confidence once again. 

Transworld Systems: The Breakdown

Transworld Systems is a debt collection agency that has been in business since 1970. This company is liable for settling outstanding debts, which means it purchased the debt from an original creditor. An original creditor can be credit card companies, student loan companies, banks, hospitals, and more. This is known as a charge off.

Are They Legitimate?

Yes, Transworld Systems is a legitimate company. That being said, it is common to receive demanding and harassing phone calls, emails, and notices from them. Their communication tactics, though intimidating, are a method used to get consumers to pay their debt more quickly. 

Because their tactics are so harsh and relentless, they can be mistaken for a scam. To protect yourself from phishing scams of all kinds, here is their legitimate contact information:

• Phone Number: (877) 865-7686
• Website: Tsico.com
• Location: Serving the Dayton/Miami Valley, Inc. Dayton, OH 45402

When dealing with these companies, know that you do not have to subject yourself to unwanted abuse and harassment. Debt collection agencies such as Transworld Systems are governed by laws and regulations that prevent harassment. 

Credit Glory’s Credit Repair professionals can guide you to understanding your rights.

Can They Affect My Credit Score?

When a collections account is on your credit report, it can, unfortunately, hurt your score. This can hurt your chances of getting approved for future loans and other financial assistance. 

At Credit Glory, we recognize that this can be a concerning time. We can assist you if you are looking for a trustworthy, professional source to help you with any actionable steps! Getting this account removed may even be a possibility. 

Do They Collect For a Specific Company?

There is no one company in particular that Transworld Systems collects for. In fact, they collect for a variety of companies, including retailers, universities, banks, manufacturers, and more. This being said, they do not publicly share which lending companies they buy from or collect for.

Removing Transworld Systems From a Credit Report: The Essentials

Removing Transworld Systems from your credit report is possible. There are a few things to consider. Firstly, incorrect or fraudulent notices on the account can be cause for removing the collections account. Moreover, the report can be removed if these errors cannot be remedied in a reasonable time frame. 

It is pretty standard for credit reports to contain mistakes and errors. With a credit repair specialist from Credit Glory, you will have the necessary backup to confront these agencies and issues head-on.

Should I Negotiate A Settlement? 

Once you settle your debt, this means Transworld Systems will stop contacting you – but it also may not help your credit score. Your debt will be paid, but the collections account can stay on your credit report for a whopping 7 years. 

Think twice about succumbing to their extreme and persistent notices of debt! There are actions to take before settling on paying. 

Remember: if there are errors with the account or incorrect information displayed, the debt may be removed entirely. Not to mention, you will stop receiving messages from them altogether.

Look For Verification

As a consumer, you have rights! That is why it is best to avoid paying the debt right off the bat. Instead, contact Transworld Systems for proof of the debt. Note that this includes information such as the amount owed, the original creditor’s name, the last payment date, and more. 

Keep in mind that agencies such as these are not entitled to harass and torment their consumers. If you think your rights are being violated, remember you are protected. Laws like the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA) are on your side. Not to mention, the Credit Repair professionals here at Credit Glory have your back.

Can I Refute the Claims?

If you firmly know and believe that the listed debt is not legitimate, you can dispute it with the credit bureau. The FCRA notes that all consumers are allowed to deny inaccuracies on their credit reports. 

Transworld Systems must investigate the dispute to prove the debt is legitimate. In the event they cannot provide proof, the collection account will be removed from your report.

What If the Debt Is Legitimate?

If the amount on the collections account is proven accurate, a trusted team can assist you in negotiating a settlement. There are a few options here. 

For example, you can pay a portion of the total owed in exchange for Transworld Systems removing the report from your account. Be sure to get all settled upon agreements in writing before making a payment.

Can I Be Sued?

Though it is possible, a collection agency will rarely sue or garnish your wages. We can help you determine the likelihood of a lawsuit and take the required actions to clear this collection account. 

Should I Pay For Delete With Transworld Systems?

It makes sense to assume that paying Transworld Systems will fix this situation. You may think that paying them off will lead to credit bureaus deleting the debt from your credit report. However, this is inaccurate. Paying it off will mark the status as ‘paid,’ but the collections account will still appear on your report for 7 years. 

This means that your credit score will still be affected.

Do They Accept Letters of Goodwill?

Most debt collection agencies do not accept letters of goodwill, and Transworld Systems is no different. Unfortunately, they will not accept goodwill letters to remove collections accounts or chargeoffs. 

What If I Ignore the Debt?

If it is impossible to negotiate a settlement or dispute the debt, there are a few options. You can, of course, choose to pay the debt. Some people also decide to ignore it entirely, though this is not recommended. 

Remember that collections can remain on your credit report for 7 years. This is not a viable option for some, as they need financial loan assistance. Our Credit Repair professionals will assist you in creating the best action plan to tackle this issue for good.

‍Face Transworld Systems With a Trustworthy Professional!

Though ignoring Transworld Systems outright is not recommended, there are many steps to take before directly contacting them. Facing a company like this is daunting – but you do not have to do it alone. In fact, it is vital to find a professional credit specialist to walk you through this process.

Here at Credit Glory, we have a team of Credit Repair specialists to assist you. They can help you analyze your credit report, negotiate a settlement, or even entirely remove Transworld Systems from your account. We can take the stress out of the situation and allow you to regain financial sovereignty and confidence. 

Reach out today or request a free case review. We’ve got your back.