Method, software program, and system for managing debt

Details Method, software program, and system for managing debt Method, software program, and system for managing debt

2008-05-13

2008-05-13

Poinvil, Frantzy (Department: 3692)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S038000, C705S037000, C705S03600T, C705S030000

Reexamination Certificate

active

09896630

ABSTRACT:
In one embodiment, a method for managing variable rate debt in the form of at least one credit issued by a borrower, comprising: budgeting for interest owed on the variable rate debt by the borrower during a time period when an interest rate on the variable rate debt is below a first predetermined low interest rate level; applying at least a portion of any existing current budgetary excess by the borrower to reduce future interest rate risk by performing at least one of i) the early retirement of principal associated with the variable rate debt and ii) the funding of a sinking fund; and applying at least a portion of any accumulated budgetary excess by the borrower during a time period when the interest rate is above a first predetermined high interest rate level to reduce an amount of debt service. A corresponding software program and system are also disclosed.

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Shop around for best rates: Consumers may find good deals at own institutions Joice M, Rosenberg. Charleston Daily Mail. Charleston, w.v: May 15, 2000. p. 3D).

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