Dynamic financial liability management

• US 20060085334A1
• Filed: 10/14/2004
• Published: 04/20/2006
• Est. Priority Date: 10/14/2004
• Status: Abandoned Application

• Current Assignee: PFM Solutions, LLC
• Original Assignee: PFM Solutions, LLC
• Inventors: Murphy, Kevin M.
• Application Number:
  US10/965,681
• Publication Number:
  US 20060085334A1
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Financial liabilities are dynamically managed by receiving liability information relating to a client associated with multiple financial liabilities. Each financial liability is associated with a respective interest rate. A payment is allocated among the financial liabilities, for example, as a function of the interest rates associated with the financial liabilities. When a change in a financial liability occurs, the allocation of the payment is adjusted.

Claims

1. A financial liability management method comprising:

receiving liability information relating to a client associated with a plurality of financial liabilities, each financial liability associated with a respective interest rate;

allocating a payment among the financial liabilities as a function of the interest rates associated with the financial liabilities; and

responding to a change in a financial liability by adjusting the allocation of the payment.

2. The financial liability management method of claim 1, wherein allocating the payment comprises allocating a portion of the payment to a particular one of the financial liabilities having a highest interest rate.

3. The financial liability management method of claim 1, wherein responding to the change in a financial liability comprises responding to payment of a first one of the financial liabilities having a highest interest rate by allocating a portion of the payment to a second one of the financial liabilities having a second highest interest rate.

4. A computer-readable medium having computer-executable instructions thereon, the computer-executable instructions causing a computer arrangement to, upon executing the computer-executable instructions:

receive liability information relating to a client associated with a plurality of financial liabilities, each financial liability associated with a respective interest rate;

allocate a payment among the financial liabilities as a function of the interest rates associated with the financial liabilities; and

respond to a change in a financial liability by adjusting the allocation of the payment.

5. The computer-readable medium of claim 4, further having computer-executable instructions thereon to cause the computer arrangement to allocate a portion of the payment to a particular one of the financial liabilities having a highest interest rate.

6. The computer-readable medium of claim 4, further having computer-executable instructions thereon to cause the computer arrangement to respond to payment of a first one of the financial liabilities having a highest interest rate by allocating a portion of the payment to a second one of the financial liabilities having a second highest interest rate.

7. A computer arrangement configured to:

receive liability information relating to a client associated with a plurality of financial liabilities, each financial liability associated with a respective interest rate;

allocate a payment among the financial liabilities as a function of the interest rates associated with the financial liabilities; and

respond to a change in a financial liability by adjusting the allocation of the payment.

8. The computer arrangement of claim 7, the computer arrangement further configured to allocate a portion of the payment to a particular one of the financial liabilities having a highest interest rate.

9. The computer arrangement of claim 7, the computer arrangement further configured to respond to payment of a first one of the financial liabilities having a highest interest rate by allocating a portion of the payment to a second one of the financial liabilities having a second highest interest rate.