Ok, just created a Maintenance Plan to backup the Trans Log file. It's going to run Mon-Fri from 7:00am to 7:00pm every three hours. I did say for it to create a new file for every database, I hope this will create me a file for every trans log backup. I also didn't see an option to truncate the log file in the Maintenance Wizard. It's going to kick off tomorrow morning aftar a full DB backup. Got my fingers crossed.