Transworld Systems Inc.: if a letter from them arrived

What the company does

“TSI is a California corporation with its principal place of business in Pennsylvania. TSI provides account receivable management services, including consumerfacing loan servicing and debt collection, nationwide, including in New York.”
N.Y. Att'y Gen., In the Matter of Transworld Systems, Inc., Assurance of Discontinuance No. 20-061 (Sept. 2020)

Where it is based

The New York Attorney General's assurance describes TSI as a California corporation with its principal place of business in Pennsylvania.

Complaints to the CFPB

From 2023-10-01 to 2026-09-30, consumers sent the CFPB 9,834 debt-collection complaints naming TRANSWORLD SYSTEMS INC. The company responded on time to 100% of them. Most complaints came from TX (2,193), FL (854), GA (765), CA (561), NY (538), PA (435). Where consumers named the kind of debt: other debt (1,948), telecommunications debt (1,655), rental debt (679), medical debt (505).

What the complaints were about

How the company responded

The CFPB publishes complaints after the company responds or after 15 days. It does not verify every fact in a complaint, and complaint counts reflect company size and how many consumers know to complain as well as company conduct.

Public enforcement actions

CFPB Consent Order, In the Matter of Transworld Systems, Inc., File No. 2017-CFPB-0018, Sept. 18, 2017

On September 18, 2017, the CFPB issued a consent order against Transworld Systems, which the CFPB describes as the debt collector for several National Collegiate Student Loan Trusts, concerning affidavits, testimony and collection lawsuits, and requiring a $2.5 million civil penalty.

“On September 18, 2017, the Bureau issued a consent order against Transworld Systems (TSI), the debt collector for several National Collegiate Student Loan Trusts, for filing false or misleading affidavits, providing false or misleading testimony, and filing debt collection lawsuits when the companies could not prove the debt was owed. The Bureau’s order requires injunctive relief and for TSI to pay a $2.5 million civil penalty.”
CFPB Consent Order, In the Matter of Transworld Systems, Inc., File No. 2017-CFPB-0018, Sept. 18, 2017

Conn. Dep't of Banking, In the Matter of Transworld Systems Inc., Consent Order, Oct. 11, 2017

In an October 11, 2017 consent order, the Connecticut Banking Commissioner alleged that TSI failed to produce complete, accurate and timely responses to the Department's information requests (among other allegations); TSI neither admitted nor denied the allegations and agreed to a $200,000 civil penalty.

“the Commissioner alleges that TSI failed to produce complete, accurate and timely responses to requests for information made by the Department concerning TSI’s consumer collection agency business, in violation of Section 36a-17 of the Connecticut General Statutes;”
Conn. Dep't of Banking, In the Matter of Transworld Systems Inc., Consent Order, Oct. 11, 2017

Conn. Dep't of Banking, In the Matter of Transworld Systems Inc., Consent Order, Oct. 11, 2017

Under the Connecticut consent order, TSI agreed to pay a $200,000 civil penalty.

“the sum of Two Hundred Thousand Dollars ($200,000) as a civil penalty; 2. TSI shall comply with Sections 36a-17, 36a-53b(2),”
Conn. Dep't of Banking, In the Matter of Transworld Systems Inc., Consent Order, Oct. 11, 2017

N.Y. Att'y Gen., In the Matter of Transworld Systems, Inc., Assurance of Discontinuance No. 20-061 (Sept. 2020)

In a September 2020 Assurance of Discontinuance, the New York Attorney General stated it found that from November 2014 through at least April 2016, TSI repeatedly made or caused false, misleading and deceptive statements in Trust lawsuit filings and borrower communications, and engaged law firms that filed suits beyond the statute of limitations; TSI neither admitted nor denied the findings.

“Based on this investigation, the NYAG has found, as described below, that from November 2014 through at least April 2016, TSI has, directly or indirectly, repeatedly: a) made, or caused to be made, false, misleading, and deceptive statements in formal documents filed in Trust Lawsuits;”
N.Y. Att'y Gen., In the Matter of Transworld Systems, Inc., Assurance of Discontinuance No. 20-061 (Sept. 2020)

N.Y. Att'y Gen., Assurance of Discontinuance No. 20-061 (Sept. 2020)

Under the New York assurance, TSI agreed to pay the State of New York $600,000.

“In consideration of the making and execution of this Assurance, TSI shall pay to the State of New York the sum of $600,000.00, such money to be disbursed by the NYAG as the”
N.Y. Att'y Gen., Assurance of Discontinuance No. 20-061 (Sept. 2020)

If you got a letter from Transworld Systems Inc.

1. Check that the debt is yours and the amount is right before you pay anything. A collector has to send a validation notice listing the creditor and an itemization of the amount.
2. Within 30 days of receiving that notice you can dispute in writing; the collector then has to stop collecting the disputed amount until it verifies the debt. The validation letter generator writes that letter.
3. If the debt is old, check your state's statute of limitations before you pay or promise anything — in many states a payment can restart the clock, in others it cannot.
4. If something is wrong, you can submit your own complaint at consumerfinance.gov/complaint.