PAY YOURSELF FIRST WITH REVENUE GENERATION

• US 20100325036A1
• Filed: 08/06/2010
• Published: 12/23/2010
• Est. Priority Date: 11/06/2000
• Status: Abandoned Application

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: Consumer and Merchant Awareness Foundation
• Inventors: Thomas, Tracey R.
• Application Number:
  US12/852,246
• Publication Number:
  US 20100325036A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/384 using social networks
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

The system identifies a revenue producing opportunity for a user. The system obtains information related to the user'"'"'s income, income sources, user'"'"'s debts (e.g., bills) and user'"'"'s goals. The system identifies a revenue producing opportunity for the user by matching user information with information regarding the opportunities. The system further provides recommendations related to the prioritization of paying certain bills and the amount to pay for each bill based upon, for example, savings goals, a community recommendation, minimizing penalties/fees associated with user'"'"'s debts, minimum amounts due, due dates and available income. The system and/or the user may then determine a payment hierarchy which includes transferring funds to the user'"'"'s savings account prior to paying all or a portion of certain bills, wherein the transfer of funds may include different funds transfer systems and methods.

Claims

1. A method comprising:

receiving, by a computer-based system for personal finance, user information associated with a user, wherein the user information comprises user credit information, user income information, user goal information and user debt information;

determining, by the computer-based system, a savings amount based at least partially upon the user credit information, wherein the savings amount is transferred to a user savings account;

analyzing, by the computer-based system, the user information to determine a credit score strategy;

determining, by the computer-based system, the payment hierarchy based upon the savings amount, the credit score strategy and at least a portion of the user information, wherein the payment hierarchy maximizes a credit score associated with the user.

2. The method of claim 1, wherein the credit score strategy is based upon an alternate credit score.

3. The method of claim 1, wherein the alternate credit score differs from a traditional credit score reported by credit reporting bureaus.

4. The method of claim 2, wherein the alternate credit score is based upon the user savings amount.

5. The method of claim 2, further comprising determining the alternate credit score based upon the user information, wherein the determining the credit score strategy comprises forecasting a plurality of alternate credit score data based upon at least one of the user debt information, the savings amount, user savings history information, user debt payment timing information and user income information.

6. The method of claim 1, further comprising obtaining credit score information, wherein the credit score information comprises at least one of general credit scoring information and user specific credit score information.

7. The method of claim 6, further comprising determining a credit score recommendation based upon the credit score information.

8. The method of claim 6, further comprising presenting the credit score recommendation to the user.

9. The method of claim 7, wherein the presenting to the user comprises at least one of presenting a pop-up interface and presenting a side-bar information on a user interface.

10. The method of claim 8, further comprising receiving, from the user, an approval of the credit score recommendation and determining the credit score strategy is based upon the credit score recommendation.

11. The method of claim 6, wherein the determining the credit score recommendation is based upon community knowledge.

12. The method of claim 11, wherein the community knowledge comprises, for a plurality of users, at least one of savings strategies, transaction histories, demographics, merchant information, debtor information, debt history, debtors, timeframes, payment terms, payment histories, penalty histories, traditional credit scores, penalty amounts, penalty rules, debt obligations, savings goals, savings accomplishments, survey results and user recommendations.

13. The method of claim 1, further comprising:

determining a positive credit behavior of the user, wherein the positive credit behavior is based upon at least one of user debt information, the savings amount, user savings history information, user debt payment timing information, user income information and the payment hierarchy, and sending the positive credit score factor to a third-party.

14. The method of claim 13, wherein the third-party comprises at least one of a credit score bureau, a lender, a creditor, a merchant and a social network.

15. The method of claim 1, further comprising creating alternate credit score knowledge comprising at least one of a credit score industry data, lender data, user experiences, credit information for a plurality of users and community knowledge.

16. The method of claim 1, wherein the creating the alternate credit score knowledge comprises use of at least one of an expert system, deductive logic, inferential analysis, forecasting and artificial intelligence.

17. The method of claim 1, further comprising:

analyzing, by the computer-based system and in response to the transfer of the savings amount, user debt information to determine a plurality of pending debt payments, wherein the credit score strategy is based upon the pending debt payments.

18. The method of claim 17, further comprising determining, by the computer-based system, a plurality of penalties by analyzing a penalty for each of the plurality of pending debt payments, wherein the determining the payment hierarchy comprises determining the payment hierarchy based upon the savings amount, the plurality of pending debt payments, and the plurality of penalties, wherein the payment hierarchy minimizes the plurality of penalties and maximizes the credit score.

19. A system, comprising:

a network interface communicating with a memory;

the memory communicating with a processor; and

the processor, when executing a computer program, is configured to;

receive user information associated with a user, wherein the user information comprises user credit information, user income information, user goal information and user debt information;

determine a savings amount based at least partially upon the user credit information, wherein the savings amount is transferred to a user savings account;

analyze the user information to determine a credit score strategy;

determine the payment hierarchy based upon the savings amount, the credit score strategy and at least a portion of the user information, wherein the payment hierarchy maximizes a credit score associated with the user.

20. A non-transitory computer-readable medium having computer-executable instructions stored thereon that, if executed by a computer-based system for determining a payment hierarchy, cause the computer-based system to perform operations comprising:

receiving user information associated with a user, wherein the user information comprises user credit information, user income information, user goal information and user debt information;

determining, by the computer-based system, a savings amount based at least partially upon the user credit information, wherein the savings amount is transferred to a user savings account;

analyzing the user information to determine a credit score strategy;

determining the payment hierarchy based upon the savings amount, the credit score strategy and at least a portion of the user information, wherein the payment hierarchy maximizes a credit score associated with the user.