Method of controlling payment of debts
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United States of America Patent
Stats
-
Oct 2, 2001
Issued Date -
N/A
app pub date -
Nov 18, 1998
filing date -
Jan 6, 1995
priority date (Note) -
In Force
status (Latency Note)
Importance
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.
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