IS THERE A FEE FOR ACCEPTING THE SKIP-A-PAY OFFER?
Yes. No, all that is collected is the actual accrued interest due on your loan at the time the payment is skipped.
WHICH OF MY LOANS IS ELIGIBLE FOR SKIP-A-PAY?
Personal, home equity loans and auto loans may be eligible for this service. However, several factors may cause a loan to be ineligible for Skip-A-Pay:
- Your loan payment date is more then 15 days past due.
- The loan is Real Estate (first mortgage) or open-ended line of credit (VISA or credit lines)
- A Skip-A-Pay was already taken in the last six (6) months.
WHY CAN’T I SKIP MY CREDIT CARD OR REAL ESTATE LOAN PAYMENT?
Real Estate loans and credit lines have special regulations that prevent us from offering this service.
WHAT IF I DON’T HAVE THE $30 AVAILABLE IN MY SAVINGS OR CHECKING FOR THE PAYMENT SKIP?
Simply deposit or transfer funds to a savings account or checking account at the credit union, or include a check when you deliver/submit your request to Cross Valley FCU for the amount specified by the credit union.
WILL I STILL BE CHARGED INTEREST IF MY PAYMENT IS SKIPPED?
Yes, interest will accrue even though your payment is deferred.
WILL THE PROCESSING FEE BE REFUNDED IF MY REQUEST IS NOT APPROVED?
Yes, if your request is not approved we will credit your share savings account $30 (if you sent a check with your request), or we will not deduct the fee from your checking or savings account (if you requested we do so).
HOW MANY TIMES CAN I SKIP MY PAYMENTS?
Once every six (6) months (maximum amount).
WHICH PAYMENT CAN I SKIP?
The one that is currently due. For example: If you want to skip January’s payment, you must wait until the December payment has been made.
IF I DO NOT WANT TO SKIP MY PAYMENT NOW, CAN I DO IT SOME OTHER MONTH?
Yes, this program is now available year-round,at the most one skip every six (6) months.
MY PAYMENT WAS DUE YESTERDAY. IS IT TOO LATE TO SKIP?
No, just rememeber you must submit your Skip-A-Pay request no later than 10 business days to your prior due date.
WHAT DO I DO IF I NEED ASSISTANCE IN PROCESSING MY REQUEST?
Contact a member service representative at 570-823-6836 for assistance with the form or feel free to stop in at your closest Cross Valley FCU Branch.