Method of controlling payment of debts
OwnerRobert Bernsteininventor
Life of this patent
Estimating the term…
Abstract
A method and apparatus are provided for executing payment of a debt by a person to a payee. The method includes the steps of negotiating payment terms with the payee and entering the negotiated payment terms into a payment scheduler. The method further includes the steps of determining by the scheduler that the payment is due on the debt in accordance with the payment terms, electronically instructing a third party to pay the debt due and electronically transferring a receipt of the payment to the person and payee and to a database of the person in a secure location, remote from the person.
Claims23
A method of executing payment of a debt owed by a person to a payee, such method comprising the steps of:
- negotiating payment terms between the person and the payee;
- entering the negotiated payment terms into a payment scheduler;
- determining by the scheduler that the payment is due on the debt in accordance with the payment terms;
- electronically instructing a third party through a public access communication system to pay the debt due from an account of the person;
- and
- electronically transferring a receipt of the payment to the person and payee and to a database of the person in a secure location, remote from the person.
A method of executing payment of a debt owed by a person to a payee, such method comprising:
- coupling an automatic portable account controller to a payment scheduler;
- negotiating payment terms between the person and the payee;
- entering the negotiated payment terms by the person into the payment scheduler;
- determining by the scheduler that the payment is due on the debt in accordance with the payment terms;
- electronically instructing a third party through a public access communication system to pay the debt due from an account of the person;
- and
- electronically transferring a receipt of the payment to the person and payee and to a database of the person in a secure location, remote from the person.
Apparatus for executing payment of a debt owed by a person to a payee, such apparatus comprising:
- means for negotiating payment terms between the person and the payee;
- means for entering the negotiated payment terms into a payment scheduler;
- means for determining by the scheduler that the payment is due on the debt in accordance with the payment terms;
- means for electronically instructing a third party through a public access communication system to pay the debt due from an account of the person;
- and
- means for electronically transferring a receipt of the payment to the person and payee and to a database of the person in a secure location, remote from the person.
Apparatus for executing payment of a debt owed by a person to a payee, the apparatus comprising:
- means for coupling an automatic portable account controller to a payment scheduler;
- means for negotiating payment terms between the person and the payee;
- means for entering the negotiated payment terms into the payment scheduler;
- means for determining by the scheduler that the payment is due on the debt in accordance with the payment terms;
- means for electronically instructing a third party through a public access communication system to pay the debt due from an account of the person;
- and
- means for electronically transferring a receipt of the payment to the person and payee and to a database of the person in a secure location, remote from the person.
Apparatus for executing payment of a debt owed by a person to a payee, such apparatus comprising:
- means for negotiating payment terms between the person and the payee;
- a data input device adapted to enter the negotiated payment terms into a payment scheduler of the person;
- a schedule comparator adapted to determine that the payment is due on the debt in accordance with the payment terms;
- a payment processor adapted to electronically instruct a third party through a public access communication system to pay the debt due from an account of the person;
- and
- a receipt processor adapted to electronically transfer a receipt of the payment to the person and payee and to a database of the person in a secure location, remote from the person.
Dependencies are inferred from the claim text.