Loan repay enforcement system
Number of patents in Portfolio can not be more than 2000
United States of America Patent
Stats
-
Feb 27, 2001
Grant Date -
N/A
app pub date -
Aug 10, 1999
filing date -
Aug 10, 1999
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A system to encourage on time repayment of loans includes electronic apparatus coupled to a critical system of certain equipment; for example, the ignition system of an automobile. Apparatus includes mechanism whereby a user-operator is able to enter a code. Entry of a correct code serves as indication that a payment has been made and enables further use of the equipment. On failure to timely make payments, a user is prevented from using the equipment as the apparatus is arranged to disable the equipment by way of the critical system to which it is coupled. Both a user-operator interface and critical system interruption circuit are coupled to a logic processor which is easily mounted onto equipment subject to the program.
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