Relationship-based transactions and peer to pay transactions
AssigneeZirtue, LLC
InventorDennis CAIL
Life of this patent
Estimating the term…
Abstract
An information handling system may include at least one processor; and a non-transitory memory coupled to the at least one processor. The information handling system may be configured to: receive, from a borrowing party, a request for a loan from a lending party for servicing a debt owed to a creditor party; transmit, to the lending party, information relating to the request; determine loan repayment terms; cause a first amount of funds to be debited from the lending party in a first transaction; and cause a second amount of funds to be credited to the creditor party in a second transaction.
Claims20
An information handling system comprising:
- at least one processor;
- and
- a non-transitory memory coupled to the at least one processor;
- wherein the information handling system is configured to:
- receive, from a borrowing party, a request for a loan from a lending party for servicing a debt owed to a creditor party;
- receive, from the borrowing party, information regarding a backup lending party;
- transmit, to the lending party, information relating to the request;
- determine loan repayment terms;
- in response to the lending party agreeing to make the loan:
- cause a first amount of funds to be debited from the lending party in a first transaction;
- and
- cause a second amount of funds to be credited to the creditor party in a second transaction;
- and
- in response to the lending party declining to make the loan:
- transmit, to the backup lending party, information relating to the request;
- determine backup loan repayment terms;
- cause the first amount of funds to be debited from the backup lending party in a first transaction;
- and
- cause the second amount of funds to be credited to the creditor party in a second transaction.
A method comprising:
- an information handling system receiving, from a borrowing party, a request for a loan from a lending party for servicing a debt owed to a creditor party;
- the information handling system receiving, from the borrowing party, information regarding a backup lending party;
- the information handling system transmitting, to the lending party, information relating to the request;
- the information handling system determining loan repayment terms;
- in response to the lending party agreeing to make the loan:
- the information handling system causing a first amount of funds to be debited from the lending party in a first transaction;
- and
- the information handling system causing a second amount of funds to be credited to the creditor party in a second transaction;
- and
- in response to the lending party declining to make the loan:
- the information handling system transmitting, to the backup lending party, information relating to the request;
- the information handling system determining backup loan repayment terms;
- the information handling system causing the first amount of funds to be debited from the backup lending party in a first transaction;
- and
- the information handling system causing the second amount of funds to be credited to the creditor party in a second transaction.
An article of manufacture comprising a non-transitory, computer-readable medium having instructions thereon that are executable by an information handling system for:
- receiving, from a borrowing party, a request for a loan from a lending party for servicing a debt owed to a creditor party;
- receiving, from the borrowing party, information regarding a backup lending party;
- transmitting, to the lending party, information relating to the request;
- determining loan repayment terms;
- in response to the lending party agreeing to make the loan:
- causing a first amount of funds to be debited from the lending party in a first transaction;
- and
- causing a second amount of funds to be credited to the creditor party in a second transaction;
- and
- in response to the lending party declining to make the loan:
- transmitting, to the backup lending party, information relating to the request;
- determining backup loan repayment terms;
- causing the first amount of funds to be debited from the backup lending party in a first transaction;
- and
- causing the second amount of funds to be credited to the creditor party in a second transaction.
(canceled)
Dependencies are inferred from the claim text.