Systems and methods for placing debt

• US 20070043661A1
• Filed: 08/18/2006
• Published: 02/22/2007
• Est. Priority Date: 08/18/2005
• Status: Abandoned Application

• Current Assignee: CreditMax LLC (Creditmax Holdings LLC)
• Original Assignee: CreditMax LLC (Creditmax Holdings LLC)
• Inventors: Bernstein, Michael, Davis, Kevin, Kass, Stephen
• Application Number:
  US11/506,214
• Publication Number:
  US 20070043661A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A system is provided for placing debt with a debt collector from a plurality of debt portfolios. Each of the debt portfolios includes a plurality of individual debt accounts. The system includes a collections module for maintaining collector data for a plurality of debt collectors. The system includes a placement module for matching individual debt accounts from the plurality of debt portfolios with selected debt collectors from the plurality of debt collectors. The match is made to assign debt accounts with the collector best suited to collect on the debt. The match can be determined based on historical performance of the collectors and based on the characteristics of the debt account.

Claims

1. A system for placing debt with a debt collector from a plurality of debt portfolios, each of said debt portfolios comprising a plurality of individual debt accounts, said system comprising:

a collections module maintaining collections data for a plurality of debt collectors; and

a placement module for matching individual debt accounts from said plurality of debt portfolios with debt collectors from said plurality of debt collectors based on a probability that said debt collectors will collect said debt accounts.

2. The system as recited in claim 1, wherein said collector data comprises demographic data regarding individual accounts that each collector has collected attempted to collect on and the amount that was collected for each individual account;

and wherein said individual debt accounts are matched with debt collectors based upon the debt collectors history collection on similar accounts.

3. The system as recited in claim 2, wherein said demographic data includes the age of the debtor, the sex of the debtor, and the location of the debtor.

4. The system as recited in claim 3, wherein said debt account is matched with the debt collectors that are determined to have the highest probability of collecting the debt.

5. The system as recited in claim 1, wherein said collections module updates said collections data each time a collector makes a collection with information about said collection.

6. The system as recited in claim 5, wherein said placement module matches individual debt accounts with debt collectors based upon the updated collections data.

7. The system as recited in claim 1, wherein said placement module automatically generates a message to the debt collector matched with a debt account to assign said debt account to the matched debt collector.

8. The system as recited in claim 7, wherein said message includes an assignment data file defining one or more debt accounts being assigned to said debt collector.

9. The system as recited in claim 1, wherein said placement module is configured to identify characteristics relating to each of said debt collectors, group said debt collectors based upon said characteristics, and identify top collectors in each group.

10. The system as recited in claim 1, wherein said collections data includes historical data in at least three categories:

(i) size of collections, (ii) geographic region of collections, and (iii) date of said collections; and

a collector is selected for a match only when the collector is determined to be above average in each of categories (i)-(iii).

18. The method recited in claim 10, further comprising a step of automatically generating a message to the assigned debt collector to effect the assignment of said debt account to the debt collector.

19. The method recited in claim 18, wherein said message includes an assignment data file defining one or more debt accounts being assigned to said debt collector.

20. The method recited in claim 10, further comprising steps of identifying characteristics relating to each of said debt collectors, grouping said debt collectors based upon said characteristics, identifying top collectors in each group;

and wherein said assignment step assigns said individual debt account to one of said top collectors in a group having characteristics similar to said individual debt account.

21. The method recited in claim 10, wherein said collections data includes historical data in at least three categories:

(i) size of collections, (ii) geographic region of collections, and (iii) date of said collections; and

wherein said assigning step assigns the debt collector only when the collector is determined to be above average in each of categories (i)-(iii).

11. A method for placing debt with a collector, said method comprising steps of:

receiving debt information relating to a dept portfolio comprising information on a plurality of individual debt accounts from a common geographical reasons, said debt information comprising identification of each of said individual debt accounts and one or more characteristic data relating to each of said individual debt accounts;

receiving historical collections data relating to a plurality of debt collectors, said historical collections including data relating to collections on accounts made by each of said plurality of debt collectors; and

assigning one of said individual debt accounts to one of said debt collectors based at least one of said one or more characteristic data and said historical collections data.

12. The method recited in claim 11, further comprising a step of ranking said debt collectors, and wherein said assigning step is based on said rank.

13. The method recited in claim 11, wherein said characteristic data includes an amount of debt owned on each said individual account and demographical information associated with the holder of each individual debt account, and said assigning step assigns said one of said individual debt accounts to said one of said debt collectors based at least the amount of debt owned on said individual account and the demographical information, wherein the assigned debtor has a high probability of collecting said individual account based on historical collections data associated with the assigned debt collector for accounts having a similar amount of debt owned and demographical information.

14. The method recited in claim 13, wherein said demographic data includes the age of the debtor, the sex of the debtor, and the location of the debtor.

15. The method recited in claim 13, further comprising a step for determining, for a selected individual debt account, a debt collector that has a highest probability of collecting the debt based on said historical collections data, and said assigning step assigns said selected individual debt account to the collector identified in said determining step.

16. The method recited in claim 13, further comprising a step of updates said historical collections data each time one of said plurality of debt collectors makes a payment on a debt account.

17. The method recited in claim 16, wherein said assigning step is based upon the updated collections data.