Skip-A-Payment Terms and Conditions
By submitting the Skip-A-Payment form to Neighborhood Credit Union, I am requesting to skip my loan payment and understand that:
- my account must be current and in good standing
- my loan must be more than six months old
- my loan has not been skipped in the last 90 days (or twice within the last 12 months)
- and I am not otherwise in default.
I understand that by taking advantage of the Skip-A-Payment offer, interest will continue to accrue on the unpaid balance of my loan and my loan will be extended for each Skip-A-Payment granted.
This request must be submitted at least five business days prior to your payment due date.
Payment deductions from other financial institutions will be deferred for the month requested and will continue as scheduled for the following month. The following loan types do not qualify for Skip-A-Payment program: deposit secured loans, quick cash loans, mortgage loans, single payment loans, overdraft loans, lines of credit or credit cards. Other restrictions may apply.