How Can You Remove TransWorld Systems From Your Credit Report?
Discovering past due collections on your credit report is a terrible experience. If you’ve looked at your credit report and find that TransWorld Systems has you on their radar, the discovery is even more panic-inducing.
TransWorld collection services is one of the oldest and biggest collection agencies in the U.S. The company boasts over 50 years of experience in the industry and a recovery record of $6 billion for more than 60,000 clients in the last decade alone. If you find TransWorld Systems on your credit report and fail to do anything about it, you’ll find yourself in a world of hurt.
It’s imperative that you quickly remove negative entries on your credit report from Transworld Systems. Unfortunately, collection agencies are ruthless and unprofessional. TransWorld collection services are no different. Want to remove them from your credit report and sleep better at night? Keep reading, and we’ll show you how.
Know Your Rights
When you start getting collection notices from TransWorld, don’t panic. Most collection agencies, including this one, are more bark than bite. It’s standard procedure for them to make threats, and they also might tell you that you must pay off the debt in full to get it off your credit report. First of all, that’s not true, and second of all, the debt might not even be yours.
So, what’s the first thing you need to do when TransWorld starts calling?
● Always avoid making repayment arrangements via phone. All agreements with TransWorld (or any collection agency) should be in writing.
● Know your rights. The Fair Debt Collection Practices Act describes your rights and all rules, regulations, and procedures related to debt collection. Read it before committing to anything or negotiating with TransWorld Systems.
Don’t be Fooled.
Collection agencies like TransWorld Systems will assume you don’t know your rights under the act. So, rest assured that it’s par for the course for them to employ somewhat questionable tactics when they start to contact you. It’s easy to avoid being taken for a ride if you know your rights inside and out.
What else are debt collectors barred from doing under the act?
● Calling you after you notify them to cease.
● They aren’t allowed to call you before 8 in the morning or 9 at night.
● They are prohibited from coercing you to pay off the debt after you’ve requested that they validate that the debt is indeed, yours.
● They absolutely cannot threaten to arrest you or otherwise make any legal threats. Failing to pay a debt is not a criminal act.
● They can’t use abusive or foul language.
● They can’t blackmail you by falsifying your credit report information.
● Contacting you at work is a violation of the Act listed above.
What are the steps to remove TransWorld Systems from your credit report?
It’s relatively common for collection agencies to have inaccurate information about where the debt originated and who is indeed responsible for settling it. Sometimes, the agency will have the wrong person listed, but the agencies do not care. Their job is to collect the debt and get it paid. It doesn’t matter who pays for it. But, it’s in your best interest to make sure the debt is yours or not. Don’t count on the agency to check for accuracy. If you’ve been hit with a charge that you don’t recognize, you’ll need to open a TransWorld Systems dispute with one of the credit bureaus where the debt is listed.
Once you open a dispute, the credit bureaus have 30 days to investigate it. During those 30 days, you can’t sit back and rest, at least not yet. You’ll need to continue your efforts at validating the debt.
How can you validate the debt?
The first thing you can do is request TransWorld Systems to validate the debt. The Fair Debt Collection Practices Act gives you the right to demand debt validation from TransWorld or any other collection agency. Once you do this, TransWorld has to provide you with the right documents that indicate the debt belongs to you.
You’ll need to request debt validation in writing.
Once you request debt validation, TransWorld has 30 days to provide the appropriate documentation. If they can’t? Then they must remove the debt from your credit report.
What do you do if requests for validation fail?
If the requests indicate that the debt is yours, there are a few other options you have at your disposal. But, both will involve you paying off the debt.
Agree to a Payment Plan to Remove the Debt
With this step, you can request that TransWorld remove the negative entry from your report while you agree to make small payments until the debt is gone. Usually, TransWorld will honor that request.
But, you need to have this agreement in writing before you begin to make any payments. Do not make arrangements over the phone. Once everything is in writing, and you’ve started making payments, if the entry isn’t removed after 30 days, you’ll need to contact TransWorld and remind them of the agreement.
Work with a Professional
One of the quickest and easiest ways to remove TransWorld Systems from your credit report is to work with a professional. There are attorneys and legal advocates who’ve made it their job to handle the debt collection agencies for you so you can rest easy.