Computer-Based System and Method for Automating the Settlement of Debts
First Claim
1. A system for facilitating a settlement negotiation of a debt between a debtor and a creditor, comprising:
- at least one database operable to store user-entered data figures that reflect information about at least one account of which the debtor is in debt;
a computerized portal;
directly accessible to at least one debtor through a debtor user-interface;
directly accessible to at least one creditor through a creditor user-interface; and
being in communication with the at least one database to permit data entry by the debtor of the data figures through the debtor user-interface and storage of the data figures into the at least one database;
a computer system in communicative contact with the at least one database and the portal and programmed to;
generate a score associated with the at least one account and dependent upon the data figures, the score being a criterion to determine if the at least one account is eligible for settlement;
automatically generate an initial settlement offer based at least in part upon the data figures, if the at least one account is eligible for settlement; and
automatically relay the initial settlement offer to the respective creditor of the at least one account;
permit the creditor to access the initial settlement offer, through the creditor user-interface, and directly act upon the initial settlement offer; and
store in the at least one database action information corresponding to action taken by the creditor on the initial settlement offer; and
make the action information directly visible to the debtor when the debtor subsequently accesses the action information through debtor user-interface.
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Accused Products
Abstract
The present invention is a method and system for facilitating a settlement negotiation of a debt between a debtor and a creditor whereby settlement proposals are automatically and intelligently generated, based upon the financial circumstances of the debtor and a pattern of decision-making behavior of the creditor, and are sent throughout the duration of the negotiation process until an acceptable proposal is secured. Furthermore, the present invention also provides an automatic, streamlined framework for the user or client to budget for and carry through with payment of the debt in accordance with the agreed upon settlement. This negotiation and settlement process occurs without any direct contact between the debtor and the creditor, or an outside intermediary, by automating a significant part of the negotiation and repayment process whereby the process is transparent and visible to the debtor and creditor.
68 Citations
27 Claims
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1. A system for facilitating a settlement negotiation of a debt between a debtor and a creditor, comprising:
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at least one database operable to store user-entered data figures that reflect information about at least one account of which the debtor is in debt; a computerized portal; directly accessible to at least one debtor through a debtor user-interface; directly accessible to at least one creditor through a creditor user-interface; and being in communication with the at least one database to permit data entry by the debtor of the data figures through the debtor user-interface and storage of the data figures into the at least one database; a computer system in communicative contact with the at least one database and the portal and programmed to; generate a score associated with the at least one account and dependent upon the data figures, the score being a criterion to determine if the at least one account is eligible for settlement; automatically generate an initial settlement offer based at least in part upon the data figures, if the at least one account is eligible for settlement; and automatically relay the initial settlement offer to the respective creditor of the at least one account; permit the creditor to access the initial settlement offer, through the creditor user-interface, and directly act upon the initial settlement offer; and store in the at least one database action information corresponding to action taken by the creditor on the initial settlement offer; and make the action information directly visible to the debtor when the debtor subsequently accesses the action information through debtor user-interface. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. A method for facilitating a settlement negotiation of a debt, which comprises:
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directly accessing a computerized portal by at least one debtor using a user-interface, the portal being in communication with at least one database; inputting into the portal data figures that reflect information about at least one account of which the at least one debtor is in debt; storing the data figures in the at least one database; analyzing the data figures to give the at least one account a score; determining if the at least one account is eligible for settlement using the score as a criterion and, if the account is eligible for settlement; automatically generating an initial settlement offer based at least in part upon the data figures; automatically relaying the initial settlement offer to a respective creditor of the at least one account; acting upon the initial settlement offer by directly accessing the portal by the creditor using the user-interface; storing the action of the creditor in the at least one database; and making the creditor'"'"'s action directly visible to the debtor upon subsequent debtor access of the portal. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
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Specification