Patent ID: 8255326

Claim:
A non-transitory machine-readable medium for bill payment, including sets of instructions stored thereon which, when executed by a machine, cause the machine to: in a first transfer step, periodically initiate on a funds transfer schedule a debit to a designated deposit account (DDA) belonging to a debtor, wherein the fund transfer schedule comprises at least a portion of a subscription transaction table file, the subscription transaction table file comprising: information regarding a plurality of transactions for a plurality of subscribers; and all data necessary for effecting all of the plurality of transactions; in a second transfer step, receive funds from the DDA to a custody account; determine an amount of funds and a date that funds are to be transferred from the custody account to a creditor's creditor account in order to pay down both interest and principle of a debt owed and accomplish an accelerated repayment of the debt owed to the creditor by the debtor; determine a transfer method, based on the subscription transaction table file, of whether the amount of funds are to be transferred via an Electronic Funds Transfer (EFT) or a check disbursement; in a third transfer step, initiating a transfer of funds from the custody account; create a transaction record of either a disbursement from the custody account to an EFT disbursement account, or a creation of a check, based on the determination of transfer method; in a fourth transfer step, depositing the transfer of funds with the creditor; wherein the creditor account includes an associated minimum payment frequency; wherein the amount of funds to be transferred from the custody account to the creditor account is determined based at least in part on maintaining a minimum balance threshold value in the custody account; wherein the date that funds are to be transferred from the custody account to the creditor account is determined based at least in part on transferring funds to the creditor account at a greater frequency than the associated minimum payment frequency; wherein the greater frequency decreases the length of repayment of the debt; wherein the first transfer step, the second transfer step, the third transfer step, and the fourth transfer step occur asynchronously, based on conditions specified by a trust finder, such that the transfer steps do not occur in that order; and wherein the trust finder provides a join between parties involved in the bill payment.