Patent ID: 8489480
Filing Date: 2013-07-16
Classification: G06Q

Abstract:
1. A computer network-based method for restructuring debt, the computer network including at least one server system, at least one client system associated with a debt holder, and at least one client system associated with a third-party debt buyer, the method comprising: (a) defining a debt package to be offered for sale to one or more third-party debt buyers; (b) compiling debt characterization data for said debt package; (c) calculating a debt rating for the debt package using the compiled debt characterization data; (d) calculating the debt purchase value of the debt package using relationships that define purchase values associated with various debt ratings; (e) establishing the debt purchase price with the debt holder; (f) offering the debt package to one or more third-party debt buyers; (g) processing acceptance of the offered debt package by a third-party debt buyer; (h) executing a debt package purchase agreement between the debt holder and the third-party debt buyer; (i) executing a debt restructure agreement between the third-party buyer and the debtor; and (j) transferring debt purchase funds from the third-party debt buyer to the debt holder; thereby completing the transfer of debt package ownership from the debt holder to the third-party debt buyer, replacing previously-existing debt owed by the debtor to the debt holder with the debt restructure agreement between the debtor and the third-party debt buyer.