Patent ID: 7191150
Filing Date: 2007-03-13
Classification: G06Q

Abstract:
1. A computer implemented method of predicting the likelihood of collecting on a delinquent debt on an account, the method comprising the computer implemented steps of: statistically generating a predictive model of debt collection likelihood using historical data of delinquent debt accounts, specific collection methods used in each debt account, and the success of the collection methods used in each said debt account; storing said predictive model; generating a collector's notes model using said historical data of delinquent debt accounts; storing said statistically generated collectors' notes model, said statistically generated collectors' notes model representing different types of collectors' notes' subject matter as context vectors; receiving data of a currently delinquent debt account; transforming collectors' notes of said currently delinquent debt account into a document context vector and performing any of: selecting a collection method; and generating a signal indicative of the likelihood of collecting on the currently delinquent debt by applying the data of the currently delinquent debt account and the selected collection method to the predictive model; prioritizing collection resource expenditures by using said signal indicative of the likelihood of collecting on the currently delinquent debt.