Patent ID: 8510214

Claim:
A method for settling a debt owed by a user performed using a computing device and comprising: receiving financial information, at the computing device, regarding the debt; seeking available credit information including information about the user's current financial condition and the user's ability to pay the debt from at least one source external to the computing device and the user; parsing received available credit information including information about the user's current financial condition and the user's ability to pay the debt into a desired format; processing parsed received available credit information about the user's current financial condition and the user's ability to pay the debt from the available credit information using a rules based engine including rules established on behalf of a party to the debt located at the computing device, wherein the rules based engine comprises rules that consider the user's ability to pay the debt; and presenting a transaction settlement offer set to the user, the transaction settlement offer set comprising at least two individually selectable monetary offers to settle the debt, each individually selectable monetary offer to settle the debt including at least one decisioned monetary settlement term specifically determined for the user based on the rules established on behalf of the party to the debt, amount of the debt, and parsed received available credit information about the user's current financial condition and the user's ability to pay the debt, each individually selectable monetary offer selectable by the user to establish settlement of the debt by modifying existing terms of the financial obligation using terms of the individually selectable monetary offer selected by the user; wherein upon selection of one offer in the transaction settlement offer set by the user, the computing device obtains user payment information and processes at least a portion of the one offer selected by the user.