SYSTEMS, DEVICES AND METHODS FOR FACILITATING STRUCTURED SETTLEMENT TRANSACTIONS

• US 20140019286A1
• Filed: 09/16/2013
• Published: 01/16/2014
• Est. Priority Date: 03/17/2011
• Status: Abandoned Application

• Current Assignee: Winning Bid, Inc.
• Original Assignee: Winning Bid, Inc.
• Inventors: Fannin, Patrick, Keese, Michael, Parker, Stephen
• Application Number:
  US14/027,626
• Publication Number:
  US 20140019286A1
• Time in Patent Office: Days
• US Class Current: 705/26.3
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 30/08 Auctions

Abstract

In one embodiment, a structured settlement transaction information processing system, using the structured settlement transaction data, causes a bid item to be displayed at a first bidder interface and a second bidder interface. In one embodiment, the structured settlement transaction information processing system enables a first bidder to place a first bid on the bid item using the first bidder interface. In one embodiment, the structured settlement transaction information processing system enables a second bidder to place a second bid on the bid item using the second bidder interface. In one embodiment, the structured settlement transaction information processing system, based on at least one of the first bid and the second bid, provides a notification to at least one of the first bidder and the second bidder, the notification being indicative of an intention to sell the bid item.

Claims

1. A structured settlement transaction information processing system comprising:

a processor; and

a memory device storing structured settlement transaction data and instructions which when executed by the processor, cause the processor to;

(a) using the structured settlement transaction data, cause a bid item to be displayed at a first bidder interface and a second bidder interface;

(b) enable a first bidder to place a first bid on the bid item using the first bidder interface, the first bid having a first minimum amount;

(c) enable a second bidder to place a second bid on the bid item using the second bidder interface, the second bid having a second minimum amount; and

(d) based on at least one of the first bid and the second bid, provide a notification to at least one of the first bidder and the second bidder, the notification being indicative of an intention to sell the bid item.

2. The structured settlement transaction information processing system of claim 1, wherein the bid item includes a structured settlement.

3. The structured settlement transaction information processing system of claim 1, wherein the bid item includes a trust which includes a structured settlement.

4. The structured settlement transaction information processing system of claim 1, wherein the bid item includes a company which includes a structured settlement.

5. The structured settlement transaction information processing system of claim 1, wherein the instructions, when executed by the processor, cause the processor to, after a predetermined amount of time, determine the potential purchaser.

6. The structured settlement transaction information processing system of claim 1, wherein the instructions, when executed by the processor, cause the processor to:

(a) determine whether the first bid is at least equal to a predetermined amount; and

(b) in response to the first bid being at least equal to the predetermined amount, provide the first notification to the first bidder.

7. The structured settlement transaction information processing system of claim 1, wherein the instructions, when executed by the processor, cause the processor to:

(a) automatically determine a discount rate or rate of return based on a current bid price of the bid item; and

(b) display the determined discount rate or rate of return.

8. The structured settlement transaction information processing system of claim 1, wherein the instructions, when executed by the processor, cause the processor to enable those who own the right to one or more structured settlement plans to list an inventory of bid items using an online store.

9. A method of operating a structured settlement transaction information processing system, the method comprising:

(a) causing a processor to execute instructions to, using structured settlement transaction data, cause a bid item to be displayed at a first bidder interface and a second bidder interface;

(b) causing the processor to execute the instructions to enable a first bidder to place a first bid on the bid item using the first bidder interface, the first bid having a first minimum amount;

(c) causing the processor to execute the instructions to enable a second bidder to place a second bid on the bid item using the second bidder interface, the second bid having a second minimum amount; and

(d) causing the processor to execute the instructions to, based on at least one of the first bid and the second bid, provide a notification to at least one of the first bidder and the second bidder, the notification being indicative of an intention to sell the bid item.

10. The method of claim 9, wherein the bid item includes a structured settlement.

11. The method of claim 9, wherein the bid item includes a trust which includes a structured settlement.

12. The method of claim 9, wherein the bid item includes a company which includes a structured settlement.

13. The method of claim 9, which includes causing the processor to execute the instructions to, after a predetermined amount of time, determine the potential purchaser.

14. The method of claim 9, which includes:

(a) causing the processor to execute the instructions to determine whether the first bid is at least equal to a predetermined amount; and

(b) causing the processor to execute the instructions to in response to the first bid being at least equal to the predetermined amount, provide the first notification to the first bidder.

15. The method of claim 9, which includes:

(a) causing the processor to execute the instructions to automatically determine a rate of return based on a current bid price of the bid item; and

(b) which includes causing the processor execute the instructions to operate with a display device to display the determined rate of return.

16. The method of claim 9, which includes causing the processor to execute the instructions to enable those who own the right to one or more structured settlement plans to list an inventory of bid items using an online store.

17. A non-transitory computer readable medium storing instructions structured to cause an information processing apparatus to:

(a) using structured settlement transaction data, cause a bid item to be displayed at a first bidder interface and a second bidder interface;

(b) enable a first bidder to place a first bid on the bid item using the first bidder interface, the first bid having a first minimum amount;

(c) enable a second bidder to place a second bid on the bid item using the second bidder interface, the second bid having a second minimum amount; and

(d) based on at least one of the first bid and the second bid, provide a notification to at least one of the first bidder and the second bidder, the notification being indicative of an intention to sell the bid item.

18. The non-transitory computer readable medium of claim 17, wherein the bid item includes a structured settlement.

19. The non-transitory computer readable medium of claim 17, wherein the bid item includes a trust which includes a structured settlement.

20. The non-transitory computer readable medium of claim 17, wherein the bid item includes a company which includes a structured settlement.