Patent Number: 6,298,335

Title: Method of controlling payment of debts

Abstract: A method and apparatus are provided for executing payment of a debt by a person to a payee. The method includes the steps of negotiating payment terms with the payee and entering the negotiated payment terms into a payment scheduler. The method further includes the steps of determining by the scheduler that the payment is due on the debt in accordance with the payment terms, electronically instructing a third party to pay the debt due and electronically transferring a receipt of the payment to the person and payee and to a database of the person in a secure location, remote from the person.

Inventors: Bernstein; Robert (Wilmette, IL)


International Classification: G06Q 20/00 (20060101); G07F 7/08 (20060101); G06F 017/60 ()

Expiration Date: 10/02/2018