System and methods for credit dispute processing, resolution, and reporting

• US 9,697,568 B1
• Filed: 06/28/2016
• Issued: 07/04/2017
• Est. Priority Date: 03/14/2013
• Status: Active Grant

• Current Assignee: Consumerinfo.com Incorporated (Experian plc)
• Original Assignee: Consumerinfo.com Incorporated (Experian plc)
• Inventors: Hunt, III, Herbert Harris
• Primary Examiner(s): Nguyen, Tien
• Application Number:
  US15/195,823
• Time in Patent Office: 371 Days
• Field of Search: 705 26, 705 30, 705 40, 705 45, 705 39, 705 42, 705 37, 705 38, 705 714, 705 80, 705 2641, 705309, 345758, 345163, 37926511, 360 921
• 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
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/182 Alternative dispute resolution

Abstract

Systems and methods are provided for credit dispute processing, resolution, and reporting. Credit dispute resolution requests may be received, processed, and sent to a credit bureau for submission to creditors. Status of credit dispute resolutions may be reported to consumers. If a creditor'"'"'s response time is longer than its average response time or if a creditor does not respond to a credit dispute resolution request within a regulatory response period, alerts and reports may be sent to consumers to provide consumers with further options.

Claims

1. A computer-implemented method comprising:

by software instructions executed by one or more hardware processors;

generating a first alert including an indication of a current status of a credit dispute request and a first selectable link which indicates an address at which a user interface related to the credit dispute request may be accessed;

transmitting, over a wireless communication channel, the first alert to a computing device of a user associated with the credit dispute request, wherein the first alert is configured to activate a software application of the computing device to cause the indication of the current status to display on the computing device and to enable connection via the first selectable link over the wireless communication channel to cause the user interface including the indication of the current status to be displayed on the computing device;

receiving information associated with the credit dispute request; and

in response to determining that the information indicates a change of status of the credit dispute request;

determining an updated status of the credit dispute request that is different than the current status;

generating a second alert including an indication of the updated status and a second selectable link which indicates the address at which the user interface may be accessed; and

transmitting, over the wireless communication channel, the second alert to the computing device of the user, wherein the second alert is configured to activate the software application of the computing device to cause the indication of the updated status to display on the computing device and to enable connection via the second selectable link over the wireless communication channel to cause the user interface including the indication of the updated status to be displayed on the computing device.

2. The computer-implemented method of claim 1, wherein at least one of the indication of the current status or the indication of the updated status indicates respective actions related to the credit dispute request, wherein the actions include at least one of:

credit dispute request received, credit dispute case sent to credit bureau, credit dispute case acknowledged by creditor, or creditor replies to credit dispute request.

3. The computer-implemented method of claim 1, wherein the user interface further includes at least one of:

a calculated average response time associated with a creditor associated with the credit dispute request,

a calculated probability that the creditor will respond to the credit dispute request within the calculated average response time,

a determined elapsed time period associated with the credit dispute request,

a regulatory response time period for the creditor to respond to the credit dispute request,

a visual indication of whether the determined elapsed time period is larger than the calculated average response time,

an average response time associated with the creditor for a type of dispute, or

an option to initiate automatic submission of the credit dispute request to one or more additional credit bureaus.

4. The computer-implemented method of claim 1 further comprising:

by software instructions executed by the one or more hardware processors;

determining an average response time for the creditor based on one or more actual response times for the creditor in credit dispute requests of other users.

5. The computer-implemented method of claim 1 further comprising:

by software instructions executed by the one or more hardware processors;

determining a difference between a total number of days since the credit dispute request has been submitted to the creditor and a regulatory response time requirement; and

causing the user interface to further include;

an indication of the difference; and

an indication of whether the total number of days since the credit dispute request has been submitted to the creditor has exceeded the regulatory response time requirement.

6. A credit dispute resolution computing system comprising:

a computer readable storage medium having software instructions stored thereon; and

one or more processors configured to execute the software instructions to cause the one or more processors to;

generate a first alert including an indication of a current status of a credit dispute request and a first selectable link which indicates an address at which a user interface related to the credit dispute request may be accessed;

transmit, over a wireless communication channel, the first alert to a computing device of a user associated with the credit dispute request, wherein the first alert is configured to activate a software application of the computing device to cause the indication of the current status to display on the computing device and to enable connection via the first selectable link over the wireless communication channel to cause the user interface including the indication of the current status to be displayed on the computing device;

receive information associated with the credit dispute request; and

in response to determining that the information indicates a change of status of the credit dispute request;

determine an updated status of the credit dispute request that is different than the current status;

generate a second alert including an indication of the updated status and a second selectable link which indicates the address at which the user interface may be accessed; and

transmit, over the wireless communication channel, the second alert to the computing device of the user, wherein the second alert is configured to activate the software application of the computing device to cause the indication of the updated status to display on the computing device and to enable connection via the second selectable link over the wireless communication channel to cause the user interface including the indication of the updated status to be displayed on the computing device.

7. The credit dispute resolution computing system of claim 6, wherein at least one of the indication of the current status or the indication of the updated status indicates respective actions related to the credit dispute request, wherein the actions include at least one of:

credit dispute request received, credit dispute case sent to credit bureau, credit dispute case acknowledged by creditor, or creditor replies to credit dispute request.

8. The credit dispute resolution computing system of claim 6, wherein the user interface further includes at least one of:

a calculated average response time associated with a creditor associated with the credit dispute request,

a calculated probability that the creditor will respond to the credit dispute request within the calculated average response time,

a determined elapsed time period associated with the credit dispute request,

a regulatory response time period for the creditor to respond to the credit dispute request,

a visual indication of whether the determined elapsed time period is larger than the calculated average response time,

an average response time associated with the creditor for a type of dispute, or

an option to initiate automatic submission of the credit dispute request to one or more additional credit bureaus.

9. The credit dispute resolution computing system of claim 6, wherein the one or more processors are configured to execute the software instructions to cause the one or more processors to further:

determine an average response time for the creditor based on one or more actual response times for the creditor in credit dispute requests of other users.

10. The credit dispute resolution computing system of claim 6, wherein the one or more processors are configured to execute the software instructions to cause the one or more processors to further:

determine a difference between a total number of days since the credit dispute request has been submitted to the creditor and a regulatory response time requirement; and

cause the user interface to further include;

an indication of the difference; and

an indication of whether the total number of days since the credit dispute request has been submitted to the creditor has exceeded the regulatory response time requirement.

11. A non-transitory computer readable storage medium having software instructions stored thereon, the software instructions executable by one or more processors to cause the one or more processors to:

generate a first alert including an indication of a current status of a credit dispute request and a first selectable link which indicates an address at which a user interface related to the credit dispute request may be accessed;

transmit, over a wireless communication channel, the first alert to a computing device of a user associated with the credit dispute request, wherein the first alert is configured to activate a software application of the computing device to cause the indication of the current status to display on the computing device and to enable connection via the first selectable link over the wireless communication channel to cause the user interface including the indication of the current status to be displayed on the computing device;

receive information associated with the credit dispute request; and

in response to determining that the information indicates a change of status of the credit dispute request;

determine an updated status of the credit dispute request that is different than the current status;

generate a second alert including an indication of the updated status and a second selectable link which indicates the address at which the user interface may be accessed; and

transmit, over the wireless communication channel, the second alert to the computing device of the user, wherein the second alert is configured to activate the software application of the computing device to cause the indication of the updated status to display on the computing device and to enable connection via the second selectable link over the wireless communication channel to cause the user interface including the indication of the updated status to be displayed on the computing device.

12. The non-transitory computer readable storage medium of claim 11, wherein at least one of the indication of the current status or the indication of the updated status indicates respective actions related to the credit dispute request, wherein the actions include at least one of:

credit dispute request received, credit dispute case sent to credit bureau, credit dispute case acknowledged by creditor, or creditor replies to credit dispute request.

13. The non-transitory computer readable storage medium of claim 11, wherein the user interface further includes at least one of:

a calculated average response time associated with a creditor associated with the credit dispute request,

a calculated probability that the creditor will respond to the credit dispute request within the calculated average response time,

a determined elapsed time period associated with the credit dispute request,

a regulatory response time period for the creditor to respond to the credit dispute request,

a visual indication of whether the determined elapsed time period is larger than the calculated average response time,

an average response time associated with the creditor for a type of dispute, or

an option to initiate automatic submission of the credit dispute request to one or more additional credit bureaus.

14. The non-transitory computer readable storage medium of claim 11, wherein the software instructions are executable by one or more processors to further cause the one or more processors to:

determine an average response time for the creditor based on one or more actual response times for the creditor in credit dispute requests of other users.

15. The non-transitory computer readable storage medium of claim 11, wherein the software instructions are executable by one or more processors to further cause the one or more processors to:

determine a difference between a total number of days since the credit dispute request has been submitted to the creditor and a regulatory response time requirement; and

cause the user interface to further include;

an indication of the difference; and

an indication of whether the total number of days since the credit dispute request has been submitted to the creditor has exceeded the regulatory response time requirement.