Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2003-01-02
2010-12-07
Liversedge, Jennifer (Department: 3684)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000
Reexamination Certificate
active
07849009
ABSTRACT:
The present invention provides exemplary bill paying service methods and systems. One such bill paying service method (1000) includes enrolling a subscriber (Step1010) who is a debtor to a first creditor and who has authorized debits to be taken from a designated account. The designated account is adapted to periodically receive 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. The designated account is periodically debited, and any funds obtained are used to credit a custody account (Step1012). The first creditor is paid (Step1016), on behalf of the debtor and from the custody account, on a second regular schedule that differs from the first regular schedule. Paying the first creditor occurs in an amount calculated for an accelerated repayment of the first debt (Step1014). Such excess is used to accelerate the repayment of various loans and debts according to what particular application at that time will have the greatest long-term beneficial effect.
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Compiano Craig
Grant William R.
Rogers Michael W.
Liversedge Jennifer
Swartz Jamie H
The Western Union Company
Townsend and Townsend / and Crew LLP
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