Patent ID: 7848978
Filing Date: 2010-12-07
Classification: G06Q

Abstract:
1. A method for settling a transaction comprising a preexisting financial obligation owed by a user to a party to the preexisting financial obligation, comprising: enabling the user to contact the server, wherein the server is configured to authenticate an identity of the user and provide preexisting financial obligation information to the user, including an amount of money currently owed by the user to the party to the preexisting financial obligation; causing the server to seek available financial information pertinent to an ability of the user to satisfy the preexisting financial obligation from at least one credit bureau; processing data from the available financial information at the server using a rules based engine including rules established on behalf of the party to the preexisting financial obligation located at the server; and causing the server to present an offer set to the user based on at least one decision made by the rules based engine, the offer set comprising at least one individually selectable monetary offer selectable by the user including at least one decisioned monetary settlement term determined based on the rules established on behalf of the party to the preexisting financial obligation and available financial information, each individually selectable monetary offer selectable by a user to settle the transaction; wherein the server requires no debt recovery product be accepted by the user to settle the transaction.