Patent ID: 7849009

Claim:
A bill-paying service method, comprising: enrolling a subscriber who is a debtor to a first creditor and who has authorized debits to be taken from a designated account, the designated account periodically receiving a payroll deposit on a first regular schedule that is over time in excess of a minimum payment on a first debt owed by the debtor to the first creditor; periodically debiting the designated account by a computer processor and using any funds obtained to credit a custody account; paying by a computer processor the first creditor on behalf of the debtor from the custody account, wherein the paying occurs on a second regular schedule that differs from the first regular schedule, and wherein the paying is in an amount calculated for an accelerated repayment of the first debt; providing a bill paying service mechanism configured to determine an amount of funds to be paid to a second creditor from the custody account to pay a second debt owed the second creditor by the debtor; determining by a computer processor included in the bill paying service mechanism an amount of funds to be paid to the second creditor from the custody account to pay a second debt owed the second creditor by the debtor; paying by a computer processor the second creditor on behalf of the debtor from the custody account; and determining by a computer processor included in the bill paying service mechanism an extra payment to be made to the first creditor after paying the second creditor, the extra payment calculated to provide at least a portion of the accelerated repayment of the first debt.