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:
Dec. 25, 2012
Filed:
Aug. 04, 2011
Applicant:
Robert A. Reid, Schenectady, NY (US);
Inventor:
Robert A. Reid, Schenectady, NY (US);
Assignee:
Other;
Primary Examiner:
Int. Cl.
CPC ...
G06Q 40/00 (2006.01);
U.S. Cl.
CPC ...
Abstract
A loan repayment system and method comprises a loan account for a purchased item, and a personal fund account used to manage discretionary money. A user deposits discretionary money periodically into the fund account. Typically, the fund account has a starting balance of at least one full cycle's worth of such deposits. Additional principal payments, leveraged from the fund account to front-load against the loan account, are used to exponentially counter the total interest. As the method recycles with each full cycle, the loan account balance is reduced faster.