Frequently Asked Questions

Q: How is this different from a credit report?

A: FIDES only monitors Collection data that has been submitted to a Collection Agency. Collection activity can have one of the largest impacts on a persons ability to obtain credit. FIDES can notify a person before the account creates a problem in the future.

Q: What is the difference between the Monitor and Report?

A: FIDES Report is a one time report of any unpaid Collection Agency accounts that have been reported within the past 7 years. FIDES Monitor keeps an eye out for Collection accounts that appear using the enrolled members demographic information. With Monitor, we will notify the consumer of an account and they can contact the appropriate Collection Agency before the agency itself has notified the consumer about the acount!

Q: Where does the data come from?

A: The data is reported by Collection Agencies nationwide. Everyone knows if they made their car payment, but what about co-pays etc., that might slip through the cracks.

Q: How does the Monitor notify me of red flags?

A: When a consumer has enrolled in FIDES Monitor, we keep a 24 hour eye on any activity that could have a negative impact on the consumer. If an account is placed with a contributing Collection Agency, we notify the consumer about the account as soon as we receive the information.

Q: What does real-time mean?

A: Under the current credit reporting process, it can take 30-, 60-, 90- days or longer for payment updates to occur. With Fides, consumers can be notified right away!

Q: Is it secure?

A: All FIDES data is fully encrypted, and no information is stored on the internet. The system is designed to maintain full security and integrity.

Q: What is the benefit of the Monitor and/or Report?

A: By enrolling in FIDES Monitor, a consumer can maintain a level of confidence that their personal profile is under 24 hour watch and feel assured that if an account were to pop up in their name, they would be notified right away. FIDES Report provides the ability of knowing if something has already slipped through the cracks. It is certainly better to find out and correct any situation, before attempting to obtain credit and find out that there are open items that could impact that ability.