Sometimes it seems like there’s never enough money – an unexpected expense comes up and suddenly you find yourself short. That’s why IECU offers Skip-a-Pay! 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 those other expenses.
Skip-a-Pay is available on loans with balances of up to $30,000, excluding Second Mortgages and Visa Credit Cards. Depending on the current balance and status of your loan, you may skip up to two payments per year. A completed Skip-a-Pay application is required, along with a $35 fee for each skipped payment. Applications are also availble in the IECU Offices, and may be submitted in person or by fax (email applications are not accepted). When the Skip-a-Pay period is over, your payments will resume as usual per your loan agreement. For addtional information about the terms and conditions of IECU’s Skip-a-Pay program, please contact one of our Loan Officers.
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.