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Method and system for automatically collecting payment for a credit account

  • US 8,762,262 B1
  • Filed: 09/06/2002
  • Issued: 06/24/2014
  • Est. Priority Date: 09/06/2002
  • Status: Active Grant
First Claim
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1. A method for automatically collecting payment for a credit account, comprising:

  • identifying a consumer that has a negative credit history;

    offering an automatic payment service to the consumer;

    using one or more computer processors to link the credit account with a deposit account before a credit account delinquency occurs;

    utilizing a data management system to determine if the credit account is delinquent;

    determining the number of days the credit account is delinquent after a first due date;

    utilizing the data management system to automatically collect a first amount from the deposit account if the number of days the credit account is delinquent is at least a first number;

    automatically crediting the credit account the first amount; and

    if the credit account is not delinquent after the first due date, setting a second due date, the second due date occurring after the first due date.

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