Skip-A-Payment Eligibility TEST


Eligibility Requirements

  1. Unless stated otherwise, a $50 fee will be assessed for each loan.  

  2. Loan must be in good standing and current, no delinquency in last 12 months.

  3. Loan must be on the books for at least 180 days.

  4. Maximum number of skips allowed is 2 per year; 6 for life of loan. 

  5. Back to back skips are not allowed

  6. Loan balance must be $100 or greater. Loan payment must be $50 or greater.   

  7. Excludes InstaCash, real estate, Visa, HELOCK, fresh start, single pay loans, workouts and business loans or Visas.


Terms & Conditions

  1. I understand that I am allowed two Skip-A-Payment requests per calendar year in non-consecutive months.

  2. I also understand that this will extend the term of my loan and that the interest will continue to accrue.

  3. If I have GAP coverage on this loan and my vehicle becomes totaled, this skipped payment may not be covered under my GAP policy.

  4. If my payment is made through our ACH program, ten (10) calendar days prior to my due date is required for processing.  This notice will allow all parties sufficient time to properly execute requested modifications.  If my ACH payment cannot be stopped in time, my skipped payment will be delayed until the next scheduled payment.

  5. If I have scheduled recurring payments using the online payment center or another bill pay service, I must log in to that site to suspend the payment.  Y-12 FCU cannot cancel those payments on my behalf.