A process to record and track a debt or IOU between parties

摘要

#$%^&*AU2015101153A420151001.pdf#####Abstract A process to record and track a debt or IOU between parties has been disclosed. The lending party provides money, goods or services on loan to the borrowing party using the service the initiating party records what is owed. Expectations around when the debt or IOU will be repaid are recorded and the debt/IOU is stored securely with the service. The non- initiating party is sent the details of the debt/IOU to accept or decline and an accepted debt/IOU is then monitored by the Service with reminders for repayment sent to the borrower. On repayment messages are sent to the Borrower and the Lender to confirm that repayment has been made. Furthermore, at any time the Borrower or Lender can access the Service to see what is owed or has been repaid.