Patent ID: 8285613
Filing Date: 2012-10-09
Classification: G06Q

Abstract:
1. A computer implemented method regarding a consumer's credit, comprising: (a) obtaining a credit report regarding a consumer from one or more credit bureaus; wherein a computerized system provider executed by a computing system that maintains a database regarding consumer credit information obtains the credit report; (b) presenting the credit report to the consumer with suggestions to improve consumer credit; wherein the credit report is presented within a user interface displayed on display device and the computerized system provider executed by the computing system provides the suggestions; and wherein the user interface provides the consumer with a first option to initiate an offer of compromise, a second option for disputing an entry in the credit report directly with a creditor and a third option for declaring identity theft and electronically notifying one or more entities of consumer's identity theft; (c) based on a credit report entry, initiating an offer of compromise from the consumer to a creditor to settle a debt; wherein the consumer initiates the offer of compromise electronically by selecting the first option from the user interface; (d) submitting the offer of compromise to the creditor; wherein the computerized system provider executed by the computing system electronically submits the offer of compromise directly to the creditor; (e) upon acceptance of the electronically submitted offer of compromise by the creditor, transferring a payment directly to the creditor to settle the debt; wherein the computerized system provider executed by the computing system transfers the payment to the creditor; (f) notifying one or more credit bureaus regarding the debt settlement in step (e); wherein the computerized system provider executed by the computing system notifies the one or more credit bureaus; (g) selecting the second option to dispute an entry in the credit report directly with the creditor; wherein before the entry is disputed with the creditor, the computerized system provider executed by the computing system reviews historical data regarding the consumer to verify if the consumer has disputed entries with the creditor or other creditors; and wherein the entry is not disputed and the consumer is notified if historical disputes by the consumer were held to be without merit; and the entry is disputed with the creditor when historical disputes by the consumer were valid; (h) selecting the third option from the user interface to declare identity theft; wherein the computerized system provider executed by the computing system notifies one or more credit bureaus to block consumer credit accounts for a certain duration after identify theft is declared; and wherein the computerized system provider executed by the computing system notifies one or more entities of the identity theft.