Restrictions:
Loan must be current and opened for at least three months. Offer is only available on consumer installment loans. Deferrals are not applicable on home equity loans and lines, or first mortgage loans. There is a $25.00 processing fee. Limited to 1 Skip-a-Pay every 12 months. Other restrictions may apply, call for details.
Disclosures:
When a payment is “Skipped,” its due date is advanced to the due date of the next receivable. By deferring this principal and interest amount due, the terms and length of this loan will be extended from the original payment schedule. The Promissory Note will be extended and the subsequent payoff and interest charges will be affected.