Skip-a-Pays are available for most auto loans and for personal loans with closed-end terms. Skips are not available on credit cards, lines of credit, real estate loans, or lease-like auto loans.
All applications must be received at least 3 business days before the next payment is due. A fee of $25 will be charged when the application is processed. Skip payment fees may not be made from loan disbursement.
By participating in Skip-A-Pay, your overall loan repayment schedule will be extended by approximately one month due to your deferred payment. Because finance charges continue to accrue during the skip period, the total amount you pay for finance charges on your loan could be greater than stated on your loan disclosure. Loan payments that have already been made cannot be deferred. You will resume making scheduled payments beginning with the payment due following the month of the deferral and will make all scheduled payments due until the loan is paid in full.
If your loan payment is made automatically and you participate in this offer, you will need to change the transfer date to match the new loan due date. Your GAP, or other insurance, may be affected by skipping or doing a payment deferral. It is your responsibility to check with your insurance companies regarding their policies before participating in our Skip-A-Payment Program.