You never know when an opportunity will present itself. That invite to the concert of the year, an unexpected adventure, or maybe just a bill that you weren’t expecting (or forgot about…we won’t tell.) That’s why IECU offers Skip-a-Pay! It’s as simple as it sounds. You can apply to skip your regular monthly loan payment, with just a low $35 fee to help keep more money in your pocket for whatever you choose!
A completed Skip-a-Pay application is required, along with a $35 fee for each skipped payment. Applications are also available in the IECU Offices, and may be submitted in person or by fax. When the Skip-a-Pay period is over, your payments will resume as usual per your loan agreement.
Some restrictions apply. Skip-a-Pay is available on loans with balances of at least $500 and up to $30,000, excluding mortgages and Visa credit cards. Fee is $35 per loan per month, which will be deducted from your account. Only two payments per loan can be skipped in a 12 month period with 6 full prior payments received. Fee does not apply towards principal or interest.