Posted by TRandle on October 26, 2000 at 08:02:58:
We make our payments directly to the lender, period. That way we know they’re getting paid. I’ve never had a seller question this (perhaps partially due to my tone when I say it), but they frequently ask the question you’ve asked.
Nowadays, many lenders have online access where you can check the payment history if you have the loan number and the seller’s social. Alternatively, almost all larger lenders have 800 numbers where you can check the status as well. This is what I use to overcome the seller’s concerns about the payments being made on the loan. And yes, there are probably companies that will act as a collection/payment third party for a fee, but I have not gone that route.