Method and system for tracking personal property collateral

• US 9,978,100 B2
• Filed: 01/28/2015
• Issued: 05/22/2018
• Est. Priority Date: 01/28/2015
• Status: Active Grant

• Current Assignee: Crediot Inc.
• Original Assignee: Crediot Inc.
• Inventors: Mack, Steven
• Primary Examiner(s): Trotter, Scott S
• Application Number:
  US14/607,266
• Publication Number:
  US 20160217525A1
• Time in Patent Office: 1,210 Days
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A tracking system is provided for tracking personal property, such as to track collateral which is used to secure a loan. Collateral belonging to a borrower, such as electronic devices or other items of personal property having a wireless communication interface, is placed in communication with a tracking system which receives information from those items of collateral and utilizes that information to verify the existence of the borrower'"'"'s collateral.

Claims

1. A system for tracking personal property of an owner which is used as collateral for a loan comprising:

an item of personal property, said item of personal property having a built-in communication interface;

a computing device of said owner, said computing device having a processor, a memory and a communication interface permitting said computing device to communicate with said item of personal property via said built-in communication interface thereof;

a downloaded software application stored in said memory of said computing device of said owner and configured, when executed by said processor to cause said computing device to;

send a polling request to said item of personal property via said built-in wireless communication device thereof;

generate an output regarding said polling request; and

transmit said output to at least one external server;

and

said at least one external server comprising a processor, a memory and machine-readable code stored in said memory and executable by said processor to cause said server to;

analyze said output received from said computing device to determine a status of said item of personal property.

2. The system in accordance with claim 1 wherein said output comprises information regarding a response to said polling request from said item of personal property.

3. The system in accordance with claim 2 wherein said information includes a serial number of said item of personal property.

4. The system in accordance with claim 2 wherein said information comprises make and/or model information regarding said item of personal property.

5. The system in accordance with claim 3 wherein said machine-readable code stored in said memory and executable by said processor of said server is configured to analyze said output by comparing said serial number to one or more serial numbers stored in a collateral database associated with said server.

6. The system in accordance with claim 2 wherein said output includes an IP address of said computing device of said owner.

7. The system in accordance with claim 4 wherein said machine-readable code stored in said memory and executable by said processor of said server is configured to analyze said output by comparing a location corresponding to said IP address to an address of said item of personal property.

8. The system in accordance with claim 1 wherein said polling request is sent periodically.

9. The system in accordance with claim 1 wherein said built-in communication interface of said item of personal property comprises a wireless communication interface.

10. The system in accordance with claim 9 wherein said computing device of said owner and said item of personal property communicate via one or more wireless access points.

11. A method of tracking an item of personal property of an owner, the item of personal property having a built-in wireless communication interface, which item of personal property is used as collateral to secure a loan, comprising the steps of:

receiving a request from said owner via a computing device of said owner which is in communication with said item of personal property at one or more times via said built-in wireless communication interface, said request comprising a request for a personal property tracking application comprising downloadable software for execution by a processor of said computing device;

transmitting said downloadable software application from at least one server to said computing device;

causing, via said downloadable software application executed by said processor of said computing device, said computing device to poll said item of personal property by transmitting a polling request to said item of personal property via said built-in wireless communication interface thereof;

receiving at said at least one server, information regarding a response from said item of personal property transmitted by said computing device; and

analyzing at said at least one server said information regarding said response to confirm the status of said item of personal property as collateral.

12. The method in accordance with claim 11 wherein said information includes a serial number of said item of personal property.

13. The method in accordance with claim 11 wherein said information comprises make and/or model information regarding said item of personal property.

14. The method in accordance with claim 12 wherein said step of analyzing comprises comparing said serial number to one or more serial numbers stored in a collateral database associated with said at least one server.

15. The method in accordance with claim 11 wherein said information includes an IP address of said computing device.

16. The method in accordance with claim 15 wherein said step of analyzing comprises comparing a location corresponding to said IP address to an address of said item of personal property.

17. The method in accordance with claim 11 comprising transmitting said polling request periodically.

18. The method in accordance with claim 11 wherein said computing device and said item of personal property communicate via one or more wireless access points.

19. The method in accordance with claim 11 wherein said information regarding said response comprises at least a serial number received from said item of personal property and further comprising receiving at said at least one server an IP address of said computing device, and wherein said step of analyzing comprises comparing said serial number received from said item of personal property to a confirmatory serial number stored in at least one database associated with said server and said step of analyzing comprises comparing a location corresponding to said IP address to an address stored in said at least one database at which item of personal property is designated to be located.