Systems and methods for increasing recovery rates on delinquent financial accounts
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United States of America Patent
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-
N/A
Issued Date -
Apr 15, 2004
app pub date -
Oct 10, 2002
filing date -
Oct 10, 2002
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
Systems and methods consistent with the present invention managing delinquent financial accounts to allow the account issuer to increase recovery rates for these accounts. In such systems and methods, debt associated with the delinquent financial account is charged-off. The financial account is, however, kept open and the charged-off debt is then restructured to reduce a required payment amount for the account. Then, if the customer does not make the required payments, the account is closed.
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Family
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