Debt management system

• US 20050097033A1
• Filed: 07/14/2004
• Published: 05/05/2005
• Est. Priority Date: 07/01/2003
• Status: Abandoned Application

• Current Assignee: E-Loan Incorporated (Popular North America, Inc.)
• Original Assignee: E-Loan Incorporated (Popular North America, Inc.)
• Inventors: Pretell, Eduardo, Bruggeman, David, Xue, Yunlong
• Application Number:
  US10/891,405
• Publication Number:
  US 20050097033A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A debt management system includes a financial planning tool that examines a user'"'"'s mortgages, home equity loans, auto loans, savings, credit cards, and unsecured debt to determine actions that can be taken to improve the user'"'"'s debt situation. Upon receiving and saving user financial information, the debt management system dynamically recommends the most cost-effective debt management actions available to the user. The recommendations are based upon one or more parameters, such as desired debt management strategy, optimized user-selected financial goals, user credit information, available debt reduction instruments, real time interest rates, and current underwriting guidelines and upon a variety of user-inputted information. The recommendations of the debt management system are monitored and adaptively changed according to changes in the fiscal environment.

Claims

1. A method of recommending debt management actions to a user for improving a debt situation of the user, which comprises:

requesting, from the user, debt management optimization criteria to be used in evaluating potential debt management actions to be recommended to the user;

receiving at least one debt management optimization criteria selected by the user; and

communicating at least one recommended debt management action to the user based upon the user-selected debt management optimization criteria.

2. The method according to claim 1, which further comprises carrying out the communicating step by providing the user with dynamic adaptive recommendations based upon economic market conditions.

3. The method according to claim 1, which further comprises carrying out the communicating step by providing the user with dynamic adaptive recommendations based upon current economic market conditions.

4. The method according to claim 1, which further comprises carrying out the communicating step by providing the user with dynamic adaptive recommendations based upon historic economic market conditions.

5. A method of recommending debt management actions to a user based upon a preferred debt management methodology, the method comprising:

receiving a user-selected preferred debt management methodology;

generating debt optimization criteria dependent upon the received user-selected preferred debt management methodology; and

selecting at least one debt management action based upon the debt optimization criteria.

6. The method according to claim 5, which further comprises transmitting the selected at least one debt management action to the user as a recommendation for improving a debt situation of the user.

7. The method according to claim 6, which further comprises evaluating potential debt management actions to be taken by the user based upon the at least one debt management action selected.

8. The method according to claim 5, which further comprises requesting the user to selected a preferred debt management methodology from a set of debt management methodologies.

9. A machine-readable medium having instructions stored thereon for execution by a processor to perform a method of recommending debt management actions to a user for improving a debt situation of the user, which comprises:

requesting from the user debt management optimization criteria to be used in evaluating potential debt management actions to be recommended to the user;

receiving at least one debt management optimization criteria selected by the user; and

communicating at least one recommended debt management action to the user based upon the user-selected debt management optimization criteria.

10. The method according to claim 9, which further comprises carrying out the communicating step by providing the user with dynamic adaptive recommendations based upon economic market conditions.

11. The method according to claim 9, which further comprises carrying out the communicating step by providing the user with dynamic adaptive recommendations based upon current economic market conditions.

12. The method according to claim 9, which further comprises carrying out the communicating step by providing the user with dynamic adaptive recommendations based upon historic economic market conditions.

13. A machine readable medium having instructions stored thereon for execution by a processor to perform a method of recommending debt management actions to a user based upon a preferred debt management methodology, the method comprising:

receiving a user-selected preferred debt management methodology;

generating debt optimization criteria dependent upon the received user-selected preferred debt management methodology; and

selecting at least one debt management action based upon the debt optimization criteria.

14. The method according to claim 13, which further comprises transmitting the selected at least one debt management action to the user as a recommendation for improving a debt situation of the user.

15. The method according to claim 14, which further comprises evaluating potential debt management actions to be taken by the user based upon the at least one debt management action selected.

16. The method according to claim 13, which further comprises requesting the user to selected a preferred debt management methodology from a set of debt management methodologies.

17. A system for recommending debt management actions to a user associated with a respective user station, the system comprising:

a communications network;

a plurality of user stations selectively connected to the communications network, each of said user stations being associated with a respective display terminal and being configured to display a page of information; and

a server operatively connected to the communications network, said server being configured to transmit a request for user-selected debt management optimization criteria; and

upon receiving from one of said user stations a transmittal containing at least one of said user-selected debt management optimization criteria, said server being configured to recommend, to a user associated with said one user station, at least one debt management action for the user to take dependent upon said received user-selected debt management optimization criteria.

18. The system according to claim 17, further comprising an information storage facility operatively connected to said communications network, said information storage facility having a database with searchable loan-related input parameters, said server being configured to incorporate said searchable loan-related input parameters into said recommendation of said at least one debt management action received by said one user station.

19. The system according to claim 18, wherein said server automatically monitors said information storage facility for changes to said database and, upon detection of at least one of said changes, dynamically adapts said at least one debt management action and transmits said dynamically adapted recommendation to said one user station.

20. The system according to claim 17, wherein said display terminal is configured to display an Internet web page.

21. In a communications network selectively connected to a plurality of user stations, each of the user stations being associated with a respective display terminal and being configured to display a page of information, a system for recommending debt management actions to a user associated with a respective one of the user stations, the system comprising:

a server operatively connected to the communications network, said server being configured to transmit a request for user-selected debt management optimization criteria; and

upon receiving from one of the user stations a transmittal containing at least one of said user-selected debt management optimization criteria, said server being configured to recommend, to a user associated with the one user station, at least one debt management action for the user to take dependent upon said received user-selected debt management optimization criteria.

22. The system according to claim 21, further comprising an information storage facility operatively connected to the communications network, said information storage facility having a database with searchable loan-related input parameters, said server being configured to incorporate said searchable loan-related input parameters into said recommendation of said at least one debt management action received by the one user station.

23. The system according to claim 22, wherein said server automatically monitors said information storage facility for changes to said database and, upon detection of at least one of said changes, dynamically adapts said at least one debt management action and transmits said dynamically adapted recommendation to the one user station.

24. The system according to claim 21, wherein the display terminal is configured to display an Internet web page.