Method and system for debt recovery
First Claim
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1. A computer-implemented method for recovering debt from a consumer, comprising:
- making a stored-value card available to a consumer, the stored-value card having an associated account and activation protocol and an initial balance, wherein the initial balance in the stored-value card account is determined, using a processor, by the amount of the consumer'"'"'s debt with a creditor;
providing a debt repayment plan to the consumer in response to the contact and activation request from the consumerelectronically activating, by a processor, the stored-value card in response to the consumer'"'"'s acceptance of the debt repayment plan;
receiving a payment from the consumer according to the debt repayment plan, the payment comprising at least a portion of the debt; and
electronically transferring, by a processor, a monetary balance to the stored-value card account associated with the stored-value card upon receipt of the payment.
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Abstract
According to one embodiment of the invention, a method of debt recovery is provided. The method includes providing a device to a consumer owing a debt to a creditor. The device has a utility that becomes available to the consumer after being activated by the creditor. The method also includes indicating to the consumer that the utility of the device will be activated if the consumer contacts the creditor.
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Citations
37 Claims
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1. A computer-implemented method for recovering debt from a consumer, comprising:
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making a stored-value card available to a consumer, the stored-value card having an associated account and activation protocol and an initial balance, wherein the initial balance in the stored-value card account is determined, using a processor, by the amount of the consumer'"'"'s debt with a creditor; providing a debt repayment plan to the consumer in response to the contact and activation request from the consumer electronically activating, by a processor, the stored-value card in response to the consumer'"'"'s acceptance of the debt repayment plan; receiving a payment from the consumer according to the debt repayment plan, the payment comprising at least a portion of the debt; and electronically transferring, by a processor, a monetary balance to the stored-value card account associated with the stored-value card upon receipt of the payment. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A computer-implemented method for offering a debt repayment plan to a consumer, comprising:
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making a gift card with an initial balance available to a consumer, the gift card having an associated protocol, wherein the initial balance in the gift card is determined, using a processor, by the amount of the consumer'"'"'s debt with a creditor; providing a debt repayment plan to the consumer in response to a contact and activation request from the consumer; and electronically activating, using a processor, the gift card in response to the contact and activation request from the consumer; receiving a payment from the consumer according to the debt repayment plan, the payment comprising at least a portion of the debt; and making at least one additional gift card available to the consumer upon receipt of the payment. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. A computer-implemented method of offering a debt recovery plan, comprising:
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providing a card, with an initial balance, to a consumer owing a financial debt to a creditor, the card associated with an account established to give the consumer access to communications services after the creditor initiates an activation of the account, wherein the initial balance in the card is determined, using a processor, by the amount of the consumer'"'"'s debt with the creditor; indicating to the consumer that activation of the account will be initiated if the consumer contacts the creditor; participating in a communications session initiated by the consumer over a network, wherein a debt repayment plan is provided to the consumer during the communications session; and electronically activating, using a processor, the account in response to the consumer'"'"'s participation in the communications session. - View Dependent Claims (32, 33, 34, 35, 36, 37)
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Specification