Debt

Steps To Remove TransWorld Systems From Your Credit Report

TransWorld isn’t a great thing to have on your credit report. Luckily there are ways to get rid of it.

If you found TransWorld Systems on your credit report, you probably defaulted on a bill and TransWorld Systems bought it.

TransWorld Systems is a collection agency. They buy old debts from creditors for pennies on the dollar. You may also hear from them before the debt hits collection status, as they work with companies in their efforts to avoid charging off an account too.

If you find them on your credit report, it’s a collection and it could hurt your credit score as much as 50 points. The good news is, there are ways to remove it.

Know your Rights

Before you attempt to remove TransWorld Systems from your credit reports, know your rights. TransWorld Systems cannot:

  • Call before 8 AM or after 9 PM
  • Bother you at work if you requested in writing that they don’t
  • Harass anyone else to get information about you
  • Bully or scare you into paying the debt
  • Use unlawful practices to get the money

Removing TransWorld Systems from your Credit Report

As soon as you receive communication from TransWorld Systems and/or you spot them on your credit report, do the following:

Request Debt Validation

This step is time-sensitive. You have 30 days from the first date TransWorld contacts you to validate the debt. By law, if they contact you by phone, they have 5 days to follow up with a written letter.

Use the information in the letter to request debt validation. Write a letter asking TransWorld to verify:

  • Name of the original creditor
  • Current debt amount
  • Original debt amount
  • Account numbers
  • Last payment date
  • Proof TransWorld Systems has the right to conduct business in your state
  • Proof of any contracts you signed that originated the debt

If they can’t validate the debt, contact the credit bureaus to request removal.

Pay for Delete

If TransWorld Systems validates the debt, you owe it, but don’t have to pay the full amount or succumb to their tactics.

Instead, negotiate a pay for delete. If you do this on the phone, follow up with a letter – never agree to anything verbally.

In your request, negotiate a settlement. TransWorld bought your debt for pennies on the dollar, so they may accept a lower amount. Stay strong and keep negotiating until you reach an amount you’re comfortable and capable of paying.

Get the agreement in writing that TransWorld will delete the account from your credit report after you make the payment.

Only pay via check. Do not share your checking account information. Keep a copy of the check and the letter with the agreement. If they don’t follow through, dispute it with the credit bureaus.

Dispute the Debt

If any information on your credit report is incorrect regarding your TransWorld Systems account, dispute it.

Write a letter to the credit bureau reporting it. Include all incorrect information and provide any proof you have of the mistakes.

It could be something as small as a mistyped account number or incorrect balance. You may dispute the incorrect information and have it removed.

TransWorld has 30 days to respond to the dispute or the credit bureau must remove it from your credit report.

Get Professional Help

If you aren’t comfortable validating or negotiating the debt, get help from a credit repair agency. 

The right agency can help you dispute the debt for you. This is a legal way to remove TransWorld Systems from your credit report.  Credit professionals have the experience to know what details to dispute and how to dispute them. 

They write a letter to TransWorld Systems disputing the information. If TransWorld can’t prove otherwise, they must remove the item from your credit report. If they validate it, then you’re back to working out a settlement with TransWorld Systems, but don’t forget to ask for a pay for delete. 

Bottom Line

Don’t let collections sit on your credit report. Find ways to remove TransWorld Systems from your credit report using the above methods.

Each method is legal and works for most people. If you know you owe the debt and everything about it is legal, including that TransWorld can operate in your state, then work out a settlement amount.

Make good on your debt but only if they agree IN WRITING to delete the item from your credit report. This is the most important part of the process no matter how you do it.