Debt trending systems and methods

• US 8,930,251 B2
• Filed: 01/06/2012
• Issued: 01/06/2015
• Est. Priority Date: 06/18/2008
• Status: Active Grant

• Current Assignee: Consumerinfo.com Incorporated (Experian plc)
• Original Assignee: Consumerinfo.com Incorporated (Experian plc)
• Inventors: DeBie, Tod
• Primary Examiner(s): Poinvil, Frantzy
• Application Number:
  US13/345,319
• Publication Number:
  US 20120136768A1
• Time in Patent Office: 1,096 Days
• Field of Search: 705 10- 44
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A debt trending device accesses credit reports and/or other financial data that is available from one or more financial data sources, for a user and extracts financial account information. The debt trending device may then analyze the account information in order to generate debt trending information that indicates in the form of lists, tables, graphs, charts, etc., information regarding multiple debt accounts associated with the user.

Claims

1. A method of providing debt information for a plurality of debt accounts associated with a user, the method comprising:

receiving consumer information identifying a consumer;

transmitting at least some of the consumer information to a credit data source that maintains historical credit information for a plurality of consumers;

receiving credit information associated with the consumer from the credit data source;

detecting, by a computing device, a plurality of financial accounts in the received credit information;

for each of the plurality of financial accounts;

determining, by the computing device, an outstanding balance, a periodic minimum payment amount, and a payoff date;

determining, by the computing device, a total estimated outstanding balance for the consumer based at least in part on the respective outstanding balances for each of the plurality of financial accounts;

determining, by the computing device, a total minimum monthly payment amount based at least in part on the respective periodic minimum payment amounts and payoff dates for each of the plurality of financial accounts;

receiving a selected payoff date from the consumer indicating when the consumer would like to have all of the plurality of financial accounts paid in full; and

determining a total periodic payment amount indicating an amount the consumer must pay on a periodic basis toward the plurality of financial accounts to pay off all of the plurality of financial accounts by the selected payoff date, the total periodic payment amount determined based on at least

the total estimated outstanding balance,

the total minimum monthly payment amount,

the selected payoff date, and

the payoff dates associated with each of the plurality of financial accounts.

2. The method of claim 1 further comprising:

generating, by the computing device, an output user interface displaying the total periodic payment amount.

3. The method of claim 1 wherein the selected payoff date is received via an input user interface generated by the computing device.

4. The method of claim 1 further comprising:

receiving, from the consumer, consumer provided credit information, the consumer provided credit information comprising at least one additional financial account that is not among the plurality of financial accounts in the received credit information;

wherein the account information further comprises one or more of an outstanding balance, a periodic minimum payment amount, an interest rate, and a payoff date of the at least one additional financial account, and

wherein the total periodic payment amount further indicates an amount the consumer must pay on a periodic basis to pay off both the plurality of financial accounts in the received credit information and the at least one additional financial account.

5. The method of claim 1 further comprising:

receiving validation information from the consumer indicating whether the determined account information of the plurality of financial accounts is correct.

6. The method of claim 1 further comprising:

providing, by the computing device, a selection user interface allowing the consumer to select one or more of the plurality of financial accounts;

wherein the total estimated outstanding balance, the total minimum monthly payment amount, and the total periodic payment amount are determined based on the selected one or more of the plurality of financial accounts.

7. A method of providing debt information for a plurality of debt accounts associated with a user, the method comprising:

receiving consumer information identifying a consumer;

transmitting at least some of the consumer information to a credit data source that maintains historical credit information for a plurality of consumers;

receiving credit information associated with the consumer from the credit data source;

detecting, by a computing device, a plurality of financial accounts in the received credit information;

for each of the plurality of financial accounts;

determining, by the computing device, an outstanding balance, a periodic minimum payment amount, and a payoff date;

determining, by the computing device, a total estimated outstanding balance for the consumer based at least in part on the respective determined outstanding balances for at least two of the plurality of financial accounts;

determining, by the computing device, a total minimum monthly payment amount based at least based at least in part on the respective determined periodic minimum payment amounts and payoff dates for at least two of the plurality of financial accounts;

receiving a selected periodic payment amount from the consumer indicating the amount consumer would like pay toward the detected plurality of financial accounts; and

determining an estimated pay-off date indicating the date when all of the detected plurality of financial accounts are likely to be paid in full, the estimated pay-off date determined based on at least

the total estimated outstanding balance,

the total minimum monthly payment amount,

the selected periodic payment amount, and

the payoff date associated with each of the plurality of financial accounts.

8. The method of claim 7 further comprising:

generating, by the computing device, an output user interface displaying the estimated pay-off date.

9. The method of claim 7 wherein the selected periodic payment amount is received from an input user interface generated by the computing device.

10. The method of claim 7 further comprising:

receiving, from the consumer, consumer provided credit information, the consumer provided credit information comprising at least one additional financial account that is not among the plurality of financial accounts in the received credit information;

wherein the account information further comprises one or more of an outstanding balance, a periodic minimum payment amount, and a payoff date of the at least one additional financial account, and

wherein the estimated pay-off date further indicates when the plurality of financial accounts in the received credit information and the at least one additional financial accounts are likely to be paid in full.

11. The method of claim 7 further comprising:

receiving validation information from the consumer indicating whether the determined account information of the plurality of financial accounts in the received credit information is correct.

12. The method of claim 7 further comprising:

providing, by the computing device, a selection user interface allowing the consumer to select one or more of the plurality of financial accounts;

wherein the total estimated outstanding balance, the total minimum monthly payment amount, and estimated pay-off date are determined based on the selected one or more of the plurality of financial accounts.

13. A system for providing debt information for a plurality of debt accounts associated with a user, the system comprising:

a processor;

a non-transitory, tangible computer readable medium storing software instructions configured for execution by the processor, the instructions configured to cause the system to;

receive consumer information identifying a consumer;

access credit information associated with the consumer from a credit data source;

detect financial accounts in the accessed credit information;

for each of the detected financial accounts;

determine an outstanding balance, a periodic minimum payment amount, and a payoff date;

determine a total estimated outstanding balance for the consumer based at least in part on the respective determined outstanding balances for each of the detected financial accounts;

determine a total minimum monthly payment amount based at least in part on the respective determined periodic minimum payment amounts and payoff dates for each of the detected financial accounts;

receive a selected payoff date from the consumer indicating when the consumer would like to have each of the one or more financial accounts paid in full; and

determine a total monthly payment amount indicating an amount the consumer must pay toward the determined financial accounts to pay off all of the detected financial accounts by the selected payoff date, the total monthly payment amount determined based on at least

the total estimated outstanding balance,

the total minimum monthly payment amount,

the selected payoff date, and

the payoff date associated with each of the detected financial accounts.

14. The system of claim 13 wherein the instructions further cause the processor to:

generate an output user interface displaying the total monthly payment amount.

15. The system of claim 13 wherein the selected payoff date is received via an input user interface generated by the processor based on instructions stored in the non-transitory, tangible computer readable medium.

16. The system of claim 13 wherein the instructions further cause the processor to:

receive, from the consumer, consumer provided credit information, the consumer provided credit information comprising at least one additional financial account that is not among the plurality of financial accounts in the received credit information; and

,

wherein the account information further comprises one or more of an outstanding balance, a periodic minimum payment amount, an interest rate, and a payoff date of the at least one additional financial account, and

wherein the total monthly payment amount further indicates an amount the consumer must pay per month to pay off both the plurality of financial accounts in the received credit information and the at least one additional financial account.

17. The system of claim 13 wherein the instructions further cause the processor to:

receive validation information from the consumer indicating whether the determined account information of the plurality of financial accounts is correct.

18. The system of claim 13 wherein the instructions further cause the processor to:

provide a selection user interface allowing the consumer to select one or more selected financial accounts of the plurality of financial accounts, and

wherein the total estimated outstanding balance, the total minimum monthly payment amount, and the total periodic payment amount are determined based on the selected one or more of the plurality of financial accounts.

19. A system for providing debt information for a plurality of debt accounts associated with a user, the system comprising:

a processor;

a non-transitory, tangible computer readable medium storing software instructions configured for execution by the processor, the instructions causing the processor to;

receive consumer information identifying a consumer;

access credit information associated with the consumer from a credit data source;

detect a plurality of financial accounts in the accessed credit information;

for at least two of the detected financial accounts;

determine an outstanding balance, a periodic minimum payment amount, and a payoff date;

determine a total estimated outstanding balance for the consumer based at least in part on the determined outstanding balances for the at least two detected financial accounts;

determine a total minimum monthly payment amount based at least in part on the determined periodic minimum payment amounts and payoff dates for the at least two detected financial accounts;

receive a selected periodic payment amount indicating the amount consumer would like pay toward the at least two of the plurality of financial accounts; and

determine an estimated pay-off date indicating the date when all of the at least two of the plurality financial accounts are likely to be paid in full, the estimated pay-off date determined based on at least

the total estimated outstanding balance,

the total minimum monthly payment amount,

the selected periodic payment amount, and

the payoff date associated with each of the plurality of financial accounts.

20. The system of claim 19 wherein the instructions further cause the processor to:

generate an output user interface displaying the estimated pay-off date.

21. The system of claim 19 wherein the selected periodic payment amount is received via an input user interface generated by the processor based on instructions stored in the non-transitory, tangible computer readable medium.

22. The system of claim 19 wherein the instructions further cause the processor to:

receive, from the consumer, consumer provided credit information, the consumer provided credit information comprising at least one additional financial account that is not among the plurality of financial accounts in the received credit information;

wherein the account information further comprises one or more of an outstanding balance, a periodic minimum payment amount, an interest rate, and a payoff date of the at least one additional financial account, and

wherein the estimated pay-off date further indicates when plurality of financial accounts in the received credit information and the at least one additional financial accounts are likely to be paid in full.

23. The system of claim 19 wherein the instructions further cause the processor to:

receiving validation information from the consumer indicating whether the determined account information of the plurality of financial accounts in the received credit information is correct.

24. The system of claim 19 wherein the instructions further cause the processor to:

provide a selection user interface allowing the consumer to select one or more selected financial accounts of the plurality of financial accounts, and

wherein the total estimated outstanding balance, the total minimum monthly payment amount, and estimated pay-off date are determined based on the selected one or more of the plurality of financial accounts.