Patent ID: 6315196
Filing Date: 2001-11-13
Classification: G06Q,G07F

Abstract:
A method of debt deferment for at least one credit account of a customer of a financial institution, comprising:marking a file by a credit protection system server of the financial institution for at least one credit account of the customer of the financial institution with information about enrollment of the customer for activation of a deferment benefit on the account upon verification of an event consisting of one of the customer and a household member of the customer involuntarily becoming at least one of unemployed, hospitalized, disabled, and on family leave, and sending the enrollment information to an administrator;receiving information for the customer by the administrator about verification of the event, and sending notice of verification of the event to the credit protection server by the administrator; andautomatically marking the account file by the credit protection system server with an indicator for activation of the deferment benefit consisting of at least one of a zero minimum payment due, no adverse credit reporting, no fee accrual, and no new credit card charges on the account, and marking the account file by the credit protection system server with a maximum deferment benefit duration date counter.