Method, software program, and system for managing debt
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United States of America Patent
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Sep 11, 2012
Grant Date -
N/A
app pub date -
May 12, 2008
filing date -
Nov 28, 2000
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
In one embodiment, a method for managing variable rate debt in the form of at least one credit issued by a borrower, comprising: budgeting for interest owed on the variable rate debt by the borrower during a time period when an interest rate on the variable rate debt is below a first predetermined low interest rate level; applying at least a portion of any existing current budgetary excess by the borrower to reduce future interest rate risk by performing at least one of i) the early retirement of principal associated with the variable rate debt and ii) the funding of a sinking fund; and applying at least a portion of any accumulated budgetary excess by the borrower during a time period when the interest rate is above a first predetermined high interest rate level to reduce an amount of debt service. A corresponding software program and system are also disclosed.
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