Method and system for debt recovery
AssigneeCapital One Financial Corporation
InventorsDaniel Welker, Anthony Reynolds, John Magnuson, James Haworth, Sow Kobayashi, Oren Knishinsky
Life of this patent
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Abstract
According to one embodiment of the invention, a method of debt recovery is provided. The method includes providing a device to a consumer owing a debt to a creditor. The device has a utility that becomes available to the consumer after being activated by the creditor. The method also includes indicating to the consumer that the utility of the device will be activated if the consumer contacts the creditor.
Claims88
A method for recovering debt from a consumer, comprising:
- making a stored-value card available to a consumer, the stored-value card having an associated activation protocol;
- activating the stored-value card in response to contact and an activation request from the consumer;
- and
- providing a debt repayment plan to the consumer in response to the contact and activation request from the consumer.
A method for recovering debt from a consumer, comprising:
- making a gift card with an initial balance available to a consumer, the gift card having an associated activation protocol;
- activating the gift card in response to contact and an activation request from the consumer;
- and
- providing a debt repayment plan to the consumer in response to the contact and activation request from the consumer.
A debt recovery system comprising:
- a profile management module operable to evaluate a credit account for a consumer to determine debt recovery risk for the account and provide a stored-value card to the consumer;
- an incentive management module operable to generate a debt recovery plan to the account, the debt recovery plan comprising at least one debt recovery incentive;
- and
- an account management module operable to apply the debt recovery incentive to the account upon receiving at least one payment from the consumer.
A stored-value card comprising:
- a card operable to affect transactions for a consumer, the card corresponding to an activation protocol and having an initial value;
- an account, the card corresponding to the account;
- and
- an incentive system, the incentive system corresponding to a debt repayment plan and operable to distribute an incentive to the consumer when the consumer pays money into the account.
A method of debt recovery, comprising:
- providing a device to a consumer owing a debt to a creditor, the device having a utility that becomes available to the consumer after being activated by the creditor;
- and
- indicating to the consumer that the utility of the device will be activated if the consumer contacts the creditor.
A method of debt recovery, comprising:
- providing a mobile phone to a consumer, the mobile phone operable to be used by the consumer to communicate with each of a plurality of parties selected by the consumer after a creditor initiates an activation of the mobile phone;
- and
- indicating to the consumer that the activation of the mobile phone will be initiated if the consumer contacts the creditor.
A method of debt recovery, comprising:
- providing a card to a consumer, the card associated with an account established to give the consumer access to communications services after a creditor initiates an activation of the account;
- and
- indicating to the consumer that activation of the account will be initiated if the consumer contacts the creditor.
Dependencies are inferred from the claim text.