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Skip A Payment

Does your personal budget feel a little tight now? Would skipping your loan payment this month improve the situation? Request a Skip a Payment on your qualifying BFCU loans and keep more money in your wallet.

How does Skip a Payment work?

The Skip a Payment program may be utilized once during any 12 month period. The Skip a Payment will allow for deferment of one month's payment on any consumer loan. Loans established as bi-weekly payments will skip two payments. Members utilizing Direct Deposit allocations as a means of loan payment will have allocations deposited into savings rather than applied to the loan.

Which loans are eligible for Skip a Payment?

All BFCU loans, with the exception of First Mortgage Real Estate loans are eligible. Each qualifying loan may participate in Skip a Payment only once during a 12 month period.

Skip a Payment requests are not available for loans:

  • With less than six months payment history
  • That are currently delinquent
  • Having received payment extensions in the past 6 months

Requesting Skip a Payments

A signed Skip A Payment Request Form must be completed, including all loan suffixes for which a Skip Payment is requested. The Skip a Payment fee(s) must be paid in full before the loan payment(s) may be deferred.

See Fee Schedule for current per loan Skip Payment fee amount.

Skip a Payment Form Options

Interest will continue to accrue on the loan during the waived payment period. Debt Protection premium charges, if applicable, will continue to accrue. The loan maturity date will be extended when the payment is deferred. All loan terms and conditions remain the same.