Enhancing delinquent debt collection using statistical models of debt historical information and account events
First Claim
1. A computer implemented method of predicting the likelihood of collecting on a delinquent debt on an account, the method comprising the computer implemented steps of:
- statistically generating a predictive model of debt collection likelihood using historical data of delinquent debt accounts, specific collection methods used in each debt account, and the success of the collection methods used in each said debt account;
storing said predictive model;
generating a collector'"'"'s notes model using said historical data of delinquent debt accounts;
storing said statistically generated collectors'"'"' notes model, said statistically generated collectors'"'"' notes model representing different types of collectors'"'"' notes'"'"' subject matter as context vectors;
wherein said different types of collectors'"'"' notes'"'"' subject matter comprises information to determine prior actions taken on said account;
receiving data of a currently delinquent debt account;
transforming collectors'"'"' notes of said currently delinquent debt account into a document context vector and performing any of;
comparing said document context vector against context vectors of said collectors'"'"' notes model, determining a subject matter similarities result based on the comparison, and using said result as input into said predictive model; and
using components of said document context vector expressed in context vector eigenbasis as input into said predictive model;
selecting a collection method; and
generating a signal indicative of the likelihood of collecting on the currently delinquent debt by applying the data of the currently delinquent debt account and the selected collection method to the predictive model;
prioritizing collection resource expenditures by using said signal indicative of the likelihood of collecting on the currently delinquent debt.
3 Assignments
0 Petitions
Accused Products
Abstract
A predictive model, for example, a neural network, evaluates individual debt holder accounts and predicts the amount that will be collected on each account based on learned relationships among known variables. The predictive model is generated using historical data of delinquent debt accounts, the collection methods used to collect the debts in the accounts, and the success of the collection methods. In one embodiment, the predictive model is generated using profiles of delinquent debt accounts summarizing patterns of events in the accounts, and the success of the collection effort in each account. In another embodiment, the predictive model includes a mathematical representation of the collector'"'"'s notes created during the collection period for each account.
299 Citations
51 Claims
-
1. A computer implemented method of predicting the likelihood of collecting on a delinquent debt on an account, the method comprising the computer implemented steps of:
-
statistically generating a predictive model of debt collection likelihood using historical data of delinquent debt accounts, specific collection methods used in each debt account, and the success of the collection methods used in each said debt account; storing said predictive model; generating a collector'"'"'s notes model using said historical data of delinquent debt accounts; storing said statistically generated collectors'"'"' notes model, said statistically generated collectors'"'"' notes model representing different types of collectors'"'"' notes'"'"' subject matter as context vectors; wherein said different types of collectors'"'"' notes'"'"' subject matter comprises information to determine prior actions taken on said account; receiving data of a currently delinquent debt account; transforming collectors'"'"' notes of said currently delinquent debt account into a document context vector and performing any of; comparing said document context vector against context vectors of said collectors'"'"' notes model, determining a subject matter similarities result based on the comparison, and using said result as input into said predictive model; and using components of said document context vector expressed in context vector eigenbasis as input into said predictive model; selecting a collection method; and generating a signal indicative of the likelihood of collecting on the currently delinquent debt by applying the data of the currently delinquent debt account and the selected collection method to the predictive model; prioritizing collection resource expenditures by using said signal indicative of the likelihood of collecting on the currently delinquent debt. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51)
-
Specification