Brian E Stone

US Patent:

7720757, May 18, 2010

Filed:

Nov 12, 2003

Appl. No.:

10/706470

Inventors:

Krishnakumar Srinivasan - Valmiki Nagar, IN
Brian F. Stone - Norcross GA, US
Mark R. Pendleton - Atlanta GA, US

Assignee:

Compucredit Intellectual Property Holdings Corp. II - LAs Vegas NV

International Classification:

G06F 17/60

US Classification:

705 39

Abstract:

The invention includes systems and methods for providing a credit account for debt recovery. A recovery credit account is provided for a customer with an existing charged-off debt. Some of the customer's charged-off debt may be forgiven as part of a settlement when the customer enrolls in the recovery credit account, but the opening balance of the recovery credit account will represent the entire debt obligation of the customer going forward. The recovery credit account includes a credit limit that is lower than the opening balance. Reducing the account balance to less than the credit limit triggers open-to-buy status, issuance of a credit card, and activation of over the limit fees for future balances over the credit limit.

US Patent:

7958053, Jun 7, 2011

Filed:

May 2, 2006

Appl. No.:

11/415645

Inventors:

Brian Stone - Alpharetta GA, US

Assignee:

CompuCredit Intellectual Property Holdings Corp. II - Las Vegas NV

International Classification:

G06Q 40/00
G07F 19/00

US Classification:

705 45, 235379

Abstract:

A system and method for extending a firm offer of credit contingent upon receiving a one-time authorization to execute recurring automatic withdrawals from a deposit account is provided. In providing the one-time authorization to execute recurring automatic withdrawals, a prospective borrower may elect from a plurality of automatic withdrawal repayment options. One such option is electronic fund transfer, such as the initiation of a withdrawal entry into the Automated Clearing House network. A second option is by the remote creation of a paper negotiable instrument, which is then converted into an electronic substitute check capable of electronic routing. Upon receiving the one-time authorization, the lender may make recurring automatic withdrawals from the borrower's deposit account.

US Patent:

8041640, Oct 18, 2011

Filed:

May 2, 2006

Appl. No.:

11/415562

Inventors:

Brian Stone - Alpharetta GA, US

Assignee:

Compucredit Intellectual Property Holdings Corp. II - Las Vegas NV

International Classification:

G06Q 40/00

US Classification:

705 45, 705 67, 705 78, 705 43, 235379

Abstract:

A system and method for verifying the existence of a deposit account, such as a checking account, are provided. The system and method may also be used to determine whether the deposit account is configured to receive automatic transactions for withdrawal. For example, a lender may extend an offer of credit to a borrower where payments of principal and interest are to be made by automatic withdrawals. Prior to transferring the principal, the lender verifies the existence and configuration of the borrower's deposit account by charging a fee to establish the line of credit and retrieving the fee by automatic withdrawal. Once the transaction clears and the lender receives the fee, the lender is assured that the account does exist and is configured to receive automatic transactions. Two exemplary methods of retrieving the fee are electronic funds transfer and remote creation of a paper negotiable instrument.

US Patent:

20060282373, Dec 14, 2006

Filed:

Jun 9, 2005

Appl. No.:

11/160124

Inventors:

Brian Stone - Norcross GA, US

Assignee:

VALUED SERVICES INTELLECTUAL PROPERTY MANAGEMENT, - Las Vegas NV

International Classification:

G06Q 40/00

US Classification:

705038000

Abstract:

A credit underwriting technique that allows a consumer to gain early access to funds for paying bills or conducting financial transactions contingent upon the consumer having a high-degree of reliability on the reception of future funds, and/or the granting of access to at least a portion of the funds represented by the future funds when received. The access can be in the form of a paper check that is issued from an account in which the paycheck is deposited, an electronic fund transfer from the same account, or a direct deposit of the paycheck into either a lender accessible account or into the lenders account directly. The access can be applied for aggregated financial transactions or can be periodically applied for recurring transactions.

US Patent:

20060282374, Dec 14, 2006

Filed:

Jun 9, 2005

Appl. No.:

11/160125

Inventors:

Brian Stone - Norcross GA, US

Assignee:

VALUED SERVICES INTELLECTUAL PROPERTY MANAGEMENT, INC. II. - Las Vegas NV

International Classification:

G06Q 40/00

US Classification:

705038000

Abstract:

A credit underwriting technique that allows a consumer to gain early access to funds for paying bills or conducting financial transactions contingent upon the consumer having a high-degree of reliability on the reception of future funds, and/or the granting of access to at least a portion of the funds represented by the future funds when received. The access can be in the form of an electronic transfer from an account in which the funds are deposited, or a direct deposit of the funds into either a lender accessible account or into the lenders account directly. The access can be applied for aggregated financial transactions or can be periodically applied for recurring transactions.

US Patent:

20060282375, Dec 14, 2006

Filed:

Jun 9, 2005

Appl. No.:

11/160127

Inventors:

Brian Stone - Norcross GA, US

Assignee:

VALUED SERVICES INTELLECTUAL PROPERTY MANAGEMENT, - Las Vegas NV

International Classification:

G06Q 40/00

US Classification:

705038000, 705040000

Abstract:

Credit underwriting of bill payments, or other financial transactions on a transaction by transaction basis. A customer is enabled to request the approval of a loan for the payment of a particular financial transaction. The customer provides sufficient information to identify the account and transaction amount. A front end engine performs an approval process and if the customer is approved, provides the terms and conditions of the loan for the payment of the financial transaction. If the customer accepts the terms and conditions, the funds for payment of the transaction are presented to a merchant for payment. The customer is then required to repay the loan after a particular period of time, along with any fees.

US Patent:

20080275812, Nov 6, 2008

Filed:

Jul 14, 2008

Appl. No.:

12/172567

Inventors:

Brian Stone - Norcross GA, US

International Classification:

G06Q 20/00
G06Q 40/00

US Classification:

705 38, 705 40

Abstract:

Credit underwriting of bill payments, or other financial transactions on a transaction by transaction basis. A customer is enabled to request the approval of a loan for the payment of a particular financial transaction. The customer provides sufficient information to identify the account and transaction amount. A front end engine performs an approval process and if the customer is approved, provides the terms and conditions of the loan for the payment of the financial transaction. If the customer accepts the terms and conditions, the funds for payment of the transaction are presented to a merchant for payment. The customer is then required to repay the loan after a particular period of time, along with any fees.

US Patent:

20100205089, Aug 12, 2010

Filed:

Apr 20, 2010

Appl. No.:

12/763660

Inventors:

Krishnakumar Srinivasan - Vaimiki Nagar, IN
Brian F. Stone - Norcross GA, US
Mark R. Pendleton - Atlanta GA, US

International Classification:

G06Q 40/00
G06Q 20/00

US Classification:

705 38

Abstract:

The invention includes systems and methods for providing a credit account for debt recovery. A recovery credit account is provided for a customer with an existing charged-off debt. Some of the customer's charged-off debt may be forgiven as part of a settlement when the customer enrolls in the recovery credit account, but the opening balance of the recovery credit account will represent the entire debt obligation of the customer going forward. The recovery credit account includes a credit limit that is lower than the opening balance. Reducing the account balance to less than the credit limit triggers open-to-buy status, issuance of a credit card, and activation of over the limit fees for future balances over the credit limit.