System and method for debt presentment and resolution

Abstract

A system and method for debt presentment and resolution through an Intranet or Internet content provider is disclosed. The system and method include a plurality of “transaction communities” which are electronic forums allowing interaction between a plurality of transactors and a plurality of creditors through a variety of channels. The system of the invention allows transactors to access and input information related to a particular debt and select the method in which to complete the transaction. For example, transactors may be provided with a URL for a content provider along with a unique identification code from the collection agency(s) through mail correspondence or other communication. Upon the transactor entering the URL and entering the identification code, the transactor may then proceed to choose from a variety of settlement options listed on the HTML page. A database system then records the transaction(s) and synchronizes with the database of the collection agency(s).

1 . A method for producing the payment of a bill, debt or other transactions, said method comprising the steps of:
 providing transaction community having at least a transaction interface for at least one creditor or vendor and at least one user to exchange information such that said user may complete a payment transaction with said at least one creditor or vendor;   providing at least one computer in signal communication with a computer network, wherein the transaction interface is provided by the at least one computer;   storing control information in a database;   storing at least one business rule associated with the creditor or vendor, wherein said business rule indicates the creditor or debtor's acceptable range of payments for one or more users;   informing said user of said control information, wherein said control information includes at least access information unique to said creditor or vendor, said access information allowing said user to access said transaction interface without system enrollment;   inviting said user to access said transaction interface using said access information to complete said payment transaction;   providing access for said user to a transaction community upon connection to said transaction interface and following input of said access information;   providing to the user, via the transaction interface, one or more settlement options selected from a group consisting of disputing a debt, making a payment on a debt through at least one payment channel, proposing a payment schedule, paying a debt in full and making a payment promise;   providing to the user, via the transaction interface, and in response to a user selecting a settlement option of making a payment on a debt through a payment channel, one or more payment options selected from a group consisting of an electronic check (ACH) payment, a credit card payment and a restricted payment;   receiving transaction information from the user by the transaction interface, said transaction information including at least a settlement option selected by the user;   creating a transaction based on the transaction information;   applying the at least one business rule to the transaction;   accepting or rejecting the transaction based on the applied business rule; and   notifying the user, via the transaction interface, of the acceptance or rejection of the transaction.