Skip-A-Payment Request

  • YES! I want to Skip-A-Payment for the loan(s) and month(s) below.

    By participating in the Skip-A-Payment program, you understand and agree that there is a fee of $25 for loans up to $5,000 and $50 for all loans over $5,001 for each payment that is skipped. The fee can be deducted from a Lowland Credit Union account or can be mailed to the address below. If the loan requested has been delinquent for any reason, the Credit Union reserves the right to deny your application to Skip- A-Payment. The Skip-A-Payment option in no way alters the terms and conditions of the original loan contract as previously disclosed. Interest at the agreed rate will continue to accrue on the unpaid balance of the loan. Offer applies only to consumer installment loans and does not apply to mortgage secured or revolving loans. Skip-A-Payment is only available six calendar months after the loan origination date and once every six monthly payments. If the loan(s) are covered by a GAP Waiver Agreement, any Skip-A-Payment may have an adverse effect on how a GAP claim is paid. Refer to your GAP Wavier Agreement for skipped payment limitations. ALL Borrowers must sign for the application to be accepted. By signing below, you authorize Lowland Credit Union to extend you final payment by one month on each loan designated above. Interest will continue to accrue on your loan(s) during the month that you skip your payment.
    $25 for each loan up to $5,000, and $50 for each loan greater than $5,001.
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    ___________________________________________ Loan Officer Signature ___________________________________________ Date