Patent ID: 8326747

Claim:
A method comprising: receiving, by a computer-based system for processing deferred payments, an election for a deferred payment in response to a billing statement, wherein the deferred payment is to reduce a balance on previously billed charges, and wherein the deferred payment defers payment to the next billing cycle due date; determining, by said computer-based system, that said election does not exceed a predetermined number of available deferred payments; determining, by said computer-based system, that a consumer is eligible for said deferred payment; moving, by said computer-based system, a non-deferred balance to a deferred balance in response to said non-deferred balance being greater than zero and an account of said consumer is current; calculating, by said computer-based system, a new current defer payment option based on said deferred balance and a new non-deferred balance; and incrementing, by said computer-based system, a deferred payment counter.