Patent ID: 8768826

Claim:
A system for settling a debt representing an amount of money owed the system comprising: a server configured to receive communications from a user, the server further configured to seek available credit information including information about the user's current financial condition from at least one source external to the user, wherein the available credit information pertinent to the user comprises financial information regarding the user's ability to pay and financial position of the user, the server comprising: a rules based engine including rules established on behalf of a party having an interest in the debt, the rules based engine configured to process data from the available credit information and present a transaction settlement offer set to the user, the transaction settlement offer set based oh at least one decision made by the rules based engine and data processed from the available information; wherein the transaction settlement offer set comprises at least two individually selectable monetary offers each comprising different decisioned monetary settlement terms specifically determined for the user based on the rules established on behalf of the party having the interest in the debt and data processed from the available credit information, each individually select, able monetary offer selectable by the user to establish settlement of the debt by modifying existing terms of the debt without providing a new debt instrument to the user using terms of the individually selectable monetary offer selected by the user, and wherein upon selection of one offer by the user, the server obtains user payment information and processes at least a portion of the one offer selected by the user.