System and method for determining eligibility and enrolling members in various programs

• US 7,467,109 B1
• Filed: 05/07/2007
• Issued: 12/16/2008
• Est. Priority Date: 12/20/2000
• Status: Expired due to Term

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Forst, Jon K., Simon, Scott Howard, Nikithser, Michael F., Shields, Gregory, Woodall, Nancy W.
• Primary Examiner(s): Subramanian; Narayanswamy
• Application Number:
  US11/745,320
• Time in Patent Office: 589 Days
• Field of Search: 705 35- 37, 705/38, 705/80
• US Class Current: 705/36.00R
• 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

Abstract

A system and method for determining eligibility of persons and enrolling those persons in various programs. For example, one embodiment is particularly suited for enrolling credit card members in payment programs. A program is selected, after which enrollment information is entered. The enrollment information is checked and verified, and the enrollment application is checked for eligibility. The enrollment may be either accepted or declined. The possibility of reiterative enrollment in more than one program is provided. A system is provided for tracking which payment programs are the most enticing for later feedback analysis.

Claims

1. A computer implemented method for enrolling an individual, who has an obligation to a financial institution, in a program wherein at least some financial status information relating to the individual is known, comprising:

providing by at least one processor a list of payment programs to a user;

receiving, from the user, a selection of a payment program suitable to the individual'"'"'s financial circumstances from the list of payment programs;

determining by the at least one processor whether the individual is eligible to enroll in the selected payment program by performing an evaluation with a processor based at least in part upon the at least some financial status information relating to the individual;

providing information on the selected payment program to the user based on determining whether the individual is eligible to enroll in the selected payment program;

receiving enrollment information for the selected first program from the user;

determining whether the enrollment information meets a set of predetermined criteria for enrolling the individual in the selected payment program by performing an evaluation with a processor on at least part of the enrollment information; and

enrolling the individual in the selected payment program when the enrollment information meets the set of predetermined criteria and the individual accepts enrollment in the selected payment program.

2. The method according to claim 1 wherein the user is a customer service representative.

3. The method according to claim 1 wherein the user is the individual who has an obligation to a financial institution.

4. The method according to claim 1, wherein the payment programs are credit card debt repayment programs.

5. The method according to claim 1, wherein enrolling the individual in the selected payment program includes receiving a commitment to repay a debt under terms of the selected payment program.

6. The method according to claim 1 further comprising:

storing information regarding the selection of the payment program received from the user.

7. The method according to claim 1 further comprising:

storing information regarding whether the enrollment information meets the set of predetermined criteria.

8. The method according to claim 1 further comprising:

storing information regarding whether the individual is enrolled in the selected payment program.

9. The method according to claim 1 further comprising:

wherein each payment program on the list of payment programs is tailored to a particular set of financial circumstances and the evaluation based at least in part upon the at least some financial status information relating to the individual includes determining whether the individual has encountered the particular set of financial circumstances.

10. The method according to claim 1:

wherein after enrolling the individual in the selected payment program, the method further comprises;

providing the list of payment programs and receiving a selection of a second payment program for the individual to enroll wherein the second payment program is not the same as the selected payment program.

11. The method according to claim 1, wherein the at least some financial status information includes information on programs in which the individual has previously enrolled and the evaluation based at least in part upon the at least some financial status information relating to the individual includes an evaluation regarding whether the selected payment program is compatible with the programs in which the individual has previously enrolled.

12. A system for enrolling individuals who have obligations to a financial institution in payment programs comprising:

an input device;

an output device;

a database containing information about the individuals who have obligation to the financial institution;

at least one processor operatively associated with the input device, the output device and the database, the at least one processor programmed to perform;

a program list function wherein the processor outputs a list of programs to the output device;

a program description function wherein the processor receives a selection of a program from input through the input device and outputs a description of the selected program to the output device;

a validation and verification function wherein the processor receives enrollment information corresponding to the selected program input through the input device, determines whether the enrollment information is sufficient to enroll the individual in the selected program, and outputs the results of the determination to the output device, and

an enrollment completion function wherein the processor receives an enrollment decision input through the input device and records the enrollment decision in the database.

13. The system of claim 12 wherein the list of payment programs comprises a list of credit card repayment programs.

14. The system of claim 12 wherein the input device includes a voice response unit for receiving input from a telephone.

15. The system of claim 12 wherein the processor is programmed to perform a payment activity tracking function wherein the processor causes the database to store information regarding payments received by the financial institution in compliance with the enrollment decision.

16. The system of claim 12 wherein the processor is programmed to output a second list of programs to the output device after completing the enrollment completion function, the second list program being compatible with the enrollment decision.