Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2005-06-21
2005-06-21
Pierre, Elisca Eddy (Department: 3621)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S030000, C705S038000
Reexamination Certificate
active
06910021
ABSTRACT:
The present invention is a system that includes a first financial management system handling receivables and a second financial management system handling payables. The receivables system sends debt offset information to an offset payment system and the payables system sends payment information to the offset payments system. The offset payment system either makes a payment or offsets the payment with the debt. Both of the financial management systems receive offset information from the offset payment system. The system designates, in the respective separate receivables and payables systems, debt and payments that are suitable for offset using threshold criteria such as age, amount, party, number of notices of delinquency, etc. The system allows administrative fees and other charges, such as interest and penalties, to be added to the debt as well as the limiting of the percentage applicable to the offset at the time of the referral. During the referral of the debt to the offset payments system, the debtor as well as other parties, such as credit bureaus, are informed or notified of the delinquent debt and the referral information can be stored in a data warehouse for later analysis.
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Baker Michael Vernon
Brown Zipora
American Management Systems, Inc.
Pierre Elisca Eddy
Staas & Halsey , LLP
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