System and method for ensuring payment for sold or leased equipment

Abstract

A limited electronic system and method are provided for automatically shutting down equipment when an account associated with purchased or leased equipment falls into arrears. The system includes a control center (connected to a machine) with a screen display, means for entering a code, and a controller. The controller has a disabling program that shuts down the machine after a predetermined interval, such as time. Because the program automates the shut-down when no (timed) interval is in place, the user must obtain a 're-set code' from a non-user—i.e., the financing entity, the equipment supplier, the account manager, or other entity—and enter it into the system to set the next interval so the machine remains operational. The re-set code is generated by the machine. The non-user at a location remote from the machine receives or generates parallel re-set codes. The method involves: (a) activating the program, (b) assessing the payment status of the account, and (c) when the account is paid, releasing the re-set code to the user for manual entry it into the control center. If the account is in arrears, the re-set code is not released to the user, and no entry of a new re-set code, the program causes the machine to shut-down.