The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
May. 18, 2010
Filed:
Nov. 12, 2003
Krishnakumar Srinivasan, Valmiki Nagar, IN;
Brian F. Stone, Norcross, GA (US);
Mark R. Pendleton, Atlanta, GA (US);
Krishnakumar Srinivasan, Valmiki Nagar, IN;
Brian F. Stone, Norcross, GA (US);
Mark R. Pendleton, Atlanta, GA (US);
Compucredit Intellectual Property Holdings Corp. II, LAs Vegas, NV (US);
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.