Transfinancial Companies or TCI is a debt collection agency, which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
Transfinancial Companies, Inc. (TCI) is a third-party collection agency based in Louisiana. TCI has received consumer complaints alleging violations of the Fair Debt Collections Practices Act (FDCPA), such as using false or misleading language in an effort to collect a debt and threatening to take actions that cannot legally be taken. If TCI has contacted you about past due financial obligations, make sure you know your rights before you take action.
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Is Transfinancial Companies a scam?
They’re legit. According to the Better Business Bureau (BBB), Transfinancial Companies, Inc. is a legitimate collection agency, founded in 1992 and incorporated in 1995. The BBB established a profile page for TCI in 1999. The BBB lists TCI as a collection agency.
TCI’s website provides very little information about its business practices. Their website consists of only two pages—a home page and a contact page. Information on the home page is divided into four sections—a link to an online payment portal for consumers; contact information for email inquiries; contact information for telephone inquiries; and contact information for inquires by postal mail. There is also a “mini-Miranda” at the bottom of the page identifying TCI as a debt collector.
The contact page includes a mailing address, an email address, and phone numbers. There is also a web-based contact form “for any inquiries, questions, or commendations.” TCI’s mini-Miranda also appears at the bottom of the contact page. The online payment link leads to an online payment portal hosted by WebView, a third-party web administrator.
The online payment portal page includes a login and password window and a statement identifying Transfinancial Companies as a debt collector. All of the informational and Frequently Asked Question links on this page provide information about services provided by WebView.
Neither the home page nor the contact page provide any information about TCI’s collection services; the types of businesses or industries for whom they collect debts; or their regulatory compliance polices. There are no links or references to consumer protection resources, laws, or enforcement agencies anywhere on the site.
Who are we? We are Lemberg Law, a Consumer Law Firm
Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today! There is no charge unless we win.
How many complaints are there against Transfinancial Companies?
As of March 2018, the BBB has closed 24 complaints against Transfinancial Companies, Inc in the past 3 years, with 11 complaints closed in the previous 12 months. Most of those complaints alleged problems with billing and collections. As of March 2015, the Consumer Financial Protection Bureau (CFPB) has closed 51 complaints against TCI. Justia lists at least 3 cases of civil litigation involving TCI.
Can Transfinancial Companies Sue Me or Garnish My Wages?
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely TCI would sue you for a debt you may not owe or they cannot validate. However, debt collection agencies are known to have summoned debtors to court and garnish wages after a default judgement. Contacting an attorney BEFORE this could possibly happen would be a smart move. We’ve helped thousands of consumers fight back against unscrupulous debt collection harassers. Find out if we can help you too today!
Unlawful Debt Harassment? Learn the Law & Sue the Collector.
Can you help me file a No Fee Lawsuit against Transfinancial Companies?
Absolutely. Here are some Sample Cases
Complaints against Transfinancial Companies cite problems resulting from disputes about the accuracy of accounting and reporting practices. In March 2019, a complainant stated that TCI had damaged his credit by reporting a small-balance bill without making any effort to contact him first. The complainant stated that he had “checked his credit report… and had a noticeable hit of 75 to 86 points due to a derogatory mark.” He said that about a year previously, he “was involved in a one-vehicle accident that required him to use an ambulance. The ambulance company billed his insurance and there was still a balance.” The complainant stated that he had “never received a bill or call to collect the debt for over a year.” Subsequently, he “checked his credit report and had a 6-month past-due out of nowhere from” TCI. The complainant’s wife had “made contact with them and they allegedly told her that one payment was posted to the account.” However, the complainant stated that he had “never got a bill, phone call, or collection letter.” When his wife asked why he hadn’t received a bill, TCI allegedly said that “they do not give out bills or even call the person they are trying to collect” from. The complainant had “worked in finance…before and had never …heard of a company that did not exhaust all avenues before they tried to use a collection firm on a debt.” The complainant accused TCI of engaging in unethical practices, and that the negative collection item “can affect him financially for years on trying to get approval for any type of loan and potentially cost him thousands depending on the loan and the percentage of his APRs,” which is out of proportion for an emergency medical bill in the amount of $165.
In response, Transfinancial Companies stated that their “records indicate a bill was sent…to the address on file,” and that the complainant’s “spouse called in to… make a $25.00 payment on this bill. In regard to the…complaint against TCI’s client for not exhausting all avenues before turning the account over,” TCI stated that they “cannot speak to that issue…because once the account is turned over, they work it as required by their agreement with their client.” TCI “coded the account as disputed with the credit bureaus and will report accordingly…and will also forward the complaint to their dispute department and mail documentation…to the address on file.” The complainant rejected the attempted resolution, questioning why TCI had never sent another bill after sending an initial request for payment, then speaking to his wife to set up payment arrangements. He stated that he “obviously had no problem working out a payment arrangement…but instead of sending…a bill or ever trying to call and collect,” TCI chose to “let his account roll over to collections and put a major dent on his credit.” He concluded by stating that this practice was “very unethical and very sneaky.” In its response to the complainant’s rebuttal, TCI denied any responsibility and blamed the complainant’s wife for not calling them back after making payment arrangements.
Transfinancial Companies Calling You?
Federal laws protect you. The Fair Debt Collections Practices Act (FDCPA) regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).
But here’s the rub: If you want to enforce your rights, or recover money for violations — you need to sue. These laws provide individuals like you with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
Stop Debt Collection Harassment
You may have a case, if…
You are receiving multiple calls per week from third party collection agencies
You are receiving early morning or late night calls from debt collectors
You are receiving calls at work from a debt collection agency
Debt collectors are calling your friends, neighbors, or coworkers
Collectors are threatening you with violence, a lawsuit, or arrest
A debt collector attempts to collect more than you owe
You are being threatened with negative credit reporting
A debt collector attempts to intimidate you
Criminal accusations are being made towards you
Use of obscene language during an attempt to collect
Automated robocalls are being made to your phone in an attempt to collect
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Can You Help Me Delete Transfinancial Companies from My Credit Report?
We can absolutely help. Call us today.
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About the Author:
Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.