PRO-ACTIVE
CONTRACT SERVICING

What Advantage is a Third Party Collection Agency?

Routine Services

Fidelity Contract Services, Inc. provides third party handling of all dealings with respect to contractual obligations between two parties.

If you are receiving or making periodic payments to another party on Promissory Notes, Trust Deeds, Real Estate Contracts, Rentals or Leases we can provide the accounting services to maintain the principal and interest ledgers. Using a third party collection agent eliminates any future dispute over balances owing. It also reduces the problems which arise on credit inquiries concerning the payment habits since the information is furnished by a third party to the transaction.

We issue payment coupons and return labels to the purchaser or if the purchaser wishes we can electronically debit their checking or savings account on a specified date to make their payment. The seller will receive a Payment Notification each time a payment is applied to their account. We highly recommend the payment proceeds be electronically deposited to the seller's checking or savings account as this avoids mail delays and lost checks.

We also issue annual 1098 & 1099 interest statements which will show a recap of the years payment history and the interest you either paid or received. By using a third party service both parties avoid having to exchange their Social Security Numbers since both parties will use our TIN (Tax Identification Number) on their respective tax returns.

Learn more about the advantages of a third party collection agency from the perspective of...