Frequently Asked Questions
How much does it cost to become a FIDES Member?
There are no costs directly associated with becoming a member of FIDES. In fact, using the FIDES System will probably reduce costs for your agency. Two substantial cost-saving aspects of FIDES are settling consumer disputes an no charge, and having full access to all submitted data at no charge.
How much will using the FIDES System improve the efficiency of my agency?
The FIDES application has been developed with collection agency efficiency at the forefront. With input coming from numerous agencies, the mechanism for contributing, viewing, and/or correcting data has been specifically developed with collection agency needs in mind.
How will FIDES reduce the number of consumer complaints for my agency?
With one central databank for Collection Agency information, many of the problems associated with duplicate data will naturally be decreased. Additionally, consumers can be sure that the data held at FIDES is the most accurate and timely data available.
Will my use of the FIDES System cause my agency to change business procedures in any significant way?
No, with the exception of automatic regular data transmissions to FIDES, collection agencies can continue business as usual, while enjoying far greater accuracy, exposure to litigation, while at the same time having far greater probability of CFPB compliance.
Have additional questions? Please contact us.
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