METHODS AND SYSTEMS FOR ACTIVELY OPTIMIZING A CREDIT SCORE AND MANAGING/REDUCING DEBT
First Claim
1. A method for actively increasing a credit score and reducing debt for a customer, the method comprising:
- dynamically receiving a credit report for the customer, wherein the credit report includes credit accounts, balance information for the credit accounts, interest rate information for the credit accounts, and interest types for the credit accounts;
receiving bank account information and payroll information;
receiving fixed and variable expense information;
generating a financial report based on an aggregation of the credit report information, the bank account information, the payroll information, the fixed expense information, and the variable expense information;
based at least in part on the financial report, calculating a payment amount;
based at least in part on the payment amount, determining available unassigned income;
receiving an allocation of the available unassigned income for debt reduction and credit score optimization; and
dynamically allocating the available unassigned income to pay one or more of the credit accounts, the fixed expenses, and the variable expenses such that the customer'"'"'s debt is reduced and the customer'"'"'s credit score is improved.
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Accused Products
Abstract
The invention provides various systems and methods for actively optimizing a credit score and reducing debt. The method includes receiving a credit report including credit accounts, balances, interest rates, and rate types for the credit accounts. The method further receives bank account and payroll information, as well as fixed and variable expense information. The method then generates a financial report based on the received information. Based on the financial report, the method calculates a payment amount, and determines available unassigned income. An allocation of the available income for debt reduction and credit score optimization is received, and the method dynamically allocates the funds to pay the credit accounts, the fixed expenses, and variable expenses such that the customer'"'"'s debt is reduced and the customer'"'"'s credit score is improved.
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Citations
21 Claims
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1. A method for actively increasing a credit score and reducing debt for a customer, the method comprising:
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dynamically receiving a credit report for the customer, wherein the credit report includes credit accounts, balance information for the credit accounts, interest rate information for the credit accounts, and interest types for the credit accounts; receiving bank account information and payroll information; receiving fixed and variable expense information; generating a financial report based on an aggregation of the credit report information, the bank account information, the payroll information, the fixed expense information, and the variable expense information; based at least in part on the financial report, calculating a payment amount; based at least in part on the payment amount, determining available unassigned income; receiving an allocation of the available unassigned income for debt reduction and credit score optimization; and dynamically allocating the available unassigned income to pay one or more of the credit accounts, the fixed expenses, and the variable expenses such that the customer'"'"'s debt is reduced and the customer'"'"'s credit score is improved. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A system for actively optimizing a credit score and reducing debt, the system comprising:
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an interface configured to receive financial input from a customer; a plurality of payees configured to transmit bills for services rendered to the customer and to receive payment for the services; a credit institution configured to generate a credit report for the customer, wherein the credit report includes credit accounts, balance information for the credit accounts, interest rate information for the credit accounts, and interest types for the credit accounts; a banking institution configured to receive income funds for the customer; a payment center coupled with the interface, the plurality of payees, the credit institution, and the banking institution, the payment center configured to dynamically receive the credit report for the customer from the credit institution, to receive bank account information and payroll information from the banking institution, and to receive fixed and variable expense information via the interface; and wherein the payment center includes a fund allocation engine configured to generate a financial report based on an aggregation of the credit report information, the bank account information, payroll information, fixed expense information, and the variable expense information, based at least in part on the financial report, to calculate a payment amount, based at least in part on the payment amount, to determine available income, wherein the available income includes unassigned income, to receive an allocation of the available unassigned income for debt reduction and credit score optimization via the interface, and to dynamically allocate the available unassigned income to pay one or more of the credit accounts, the fixed expenses, and the variable expenses such that the customer'"'"'s debt is reduced and the customer'"'"'s credit score is improved. - View Dependent Claims (13, 14, 15)
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16. A machine readable medium having a set of instructions stored thereon for actively optimizing a credit score and reducing debt which, when executed by a machine, cause the machine to:
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dynamically receive a credit report for the customer, wherein the credit report includes credit accounts, balance information for the credit accounts, interest rate information for the credit accounts, and interest types for the credit accounts; receive bank account information and payroll information from the customer; receive fixed and variable expense information from the customer; generate a financial report based on an aggregation of the credit report information, the bank account information, the payroll information, the fixed expense information, and the variable expense information; based at least in part on the financial report, calculate a payment amount; based at least in part on the payment amount, determine available income, wherein the available income includes unassigned income; receive an allocation of the available unassigned income for debt reduction and credit score optimization; and dynamically allocate the available income to pay one or more of the credit accounts, the fixed expenses, and the variable expenses such that the customer'"'"'s debt is reduced and the customer'"'"'s credit score is improved. - View Dependent Claims (17, 18, 19, 20)
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21. A computer implemented bill paying method, the method comprising:
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periodically crediting a designated deposit account (DDA) belonging to a debtor with a first credit on a first regular credit schedule; receiving funds from the DDA to a custody account on a first funds transfer schedule; and determining an amount and a date that funds from the custody account are to be transferred to a creditor'"'"'s creditor account in order to accomplish an accelerated repayment of a debt owed to the creditor by the debtor.
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Specification