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System and method for managing consumer information

  • US 7,818,228 B1
  • Filed: 12/15/2005
  • Issued: 10/19/2010
  • Est. Priority Date: 12/16/2004
  • Status: Active Grant
First Claim
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1. A computer implemented method of repairing credit of a consumer, comprising:

  • (a) presenting a credit report to the consumer via a user interface displayed at a display device;

    wherein a computerized system provider executed by a computer maintains a consumer database with information related to the consumer'"'"'s credit and presents the user interface and the credit report to the consumer at the display device;

    (b) presenting a negative entry in the credit report to the consumer via the user interface;

    wherein the computerized system provider executed by the computer presents the negative entry at the display device;

    (c) providing the consumer with a first selectable option for disputing the negative entry in the credit report directly with a creditor related to the negative entry and with a credit bureau;

    (d) providing the consumer with a second selectable option for initiating an automated debt settlement negotiation with the creditor related to the negative entry;

    (e) providing the consumer with a third selectable option for declaring that the consumer'"'"'s identity has been stolen;

    wherein the computerized system provider executed by the computer provides the selectable first option, the second option and the third option to the consumer via the user interface at the display device;

    (f) selecting the first option for disputing the negative entry in the credit report directly with the creditor via the computerized system provider executed by the computer;

    wherein the consumer selects the first option from the user interface displayed by the computerized system provider at the display device;

    wherein after the first option is selected, the computerized system provider executed by the computer electronically receives a consumer request via the user interface to dispute the negative entry with a reason to dispute the negative entry;

    wherein the computerized system provider executed by the computer ranks the consumer request to dispute the negative entry based on a comparison with historical data that indicates whether the consumer has historically filed invalid requests disputing the same negative entry or other credit report entries;

    wherein based on the ranking, if the consumer request is not submitted to the creditor then the computerized system provider executed by the computer electronically notifies the consumer and provides a reason for not submitting the request; and

    wherein if the consumer request ranks beyond a first threshold value, then the computerized system provider executed by the computer, electronically submits the consumer request disputing the negative entry directly with the creditor;

    (g) selecting the second option for initiating a debt settlement negotiation related to the negative entry directly with the creditor via the computerized system provider executed by the computer;

    wherein the consumer selects the second option via the user interface and submits an offer to the computerized system provider executed by the computer to settle the debt; and

    wherein the computerized system provider executed by the computer ranks the consumer offer to settle the debt using historical data; and

    if the consumer offer meets a second threshold value, the offer is submitted to the creditor;

    (h) based on the negative entry, selecting the third option for declaring via the computerized system provider executed by the computer that the consumer'"'"'s identity has been stolen;

    wherein the computerized system provider executed by the computer eports to an entity that the consumer'"'"'s identity has been stolen;

    (i) updating the credit report after an action is taken based on one or more of the selectable first option, the second option and the third option; and

    (j) notifying the consumer and the creditor after the credit report is updated;

    wherein the computerized system provider executed by the computer electronically notifies the consumer.

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