Keep Cash in Your Wallet with Anytime Skip a Payment
How to Qualify
- Eligible loan(s) are a Personal, Auto, RV, Boat, Motorcycle or other secured Consumer Loan. Mortgages, Home Equity Loans, Unsecured Lines of Credit, and Visa Credit Cards DO NOT qualify.
- You can only use Skip-a-Pay on each eligible loan once per calendar year.
- Eligible loan(s) must be current and accounts in good standing (not delinquent 8 or more days, if the account was opened 45 days or less, and/or the account is frozen).
Is there a fee for Skip-a-Pay?
A Skip-a-Pay fee per loan skipped will be subject to a $35 fee.
When can I request a skip?
All requests cannot exceed 8 days after the due date, when the loan is considered delinquent.
Can I skip two payments in a row?
No. A skipped payment can not be submitted consecutively on a given loan.
How does skipping affect finance charges?
Finances charges will continue to accrue at the rate provided for in your original loan agreement. Deferring payment(s) will result in a higher total finance charges than if payments are made as originally scheduled and will extend the term of your loan(s) resulting in extra payment(s)after your loan(s) would otherwise be paid off.
Which loans DO NOT qualify for Skip-a-Pay?
Real Estate Loans, including Conventional, Government, ARM, Balloon, Jumbo, Construction, Vacant Land, and Home Equity loans. Unsecured Lines of Credit and Visa Credit Cards also do not qualify.
How to Skip Your Payment
You can skip your payment by stopping into a branch location near you, or by skipping your qualifying loan payment through It'sMe247 Online Banking. Login, click on 'Skip a Payment' and follow the prompts.
For new loans, a first payment must be made. Maximum of 6 deferements during the life of the loan. If you elected GAP insurance, credit life insurance, disability insurance, or debt protection, the coverage will not extend beyond the original maturity date of the loan as disclosed in the original loan documents. Certain loans may require an interest only payment to be made in order to complete the skip-a-payment request. Any loan that received a hardship extension in the current year may not qualify for the skip-a-payment program. Restrictions may apply. You will be notified if for any reason Circle FCU will not be able to honor the Skip-A-Pay request.