A federal lawsuit accuses Transworld Systems (TSI) of placing a $3,318 debt on all three credit bureaus with no prior notice — alleged debt parking. With 18,700 CFPB complaints and a $2.5M prior penalty, here’s what the lawsuit reveals and what to do if TSI appears on your credit report.
Quick Answer: The Consumer Financial Protection Bureau’s major legal victory against National Collegiate Student Loan Trust is now on hold after the trust’s management bailed, leaving no authority to enforce the settlement. NCT had agreed to withdraw baseless lawsuits and pay millions back to consumers after being caught filing suits with missing paperwork and falsified …
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