If you’ve experienced a temporary financial hardship and can’t pay your consumer loan payment in full or on time, you can defer your payments with Travis Credit Union. As part of our Awesome Cause, we’re here for you.
Frequently Asked Questions
Explore these frequently asked questions to learn more about our Skip-A-Pay Requests.
What should I know about Skip-A-Pay Request?
To request a deferment on a consumer loan means a member is asking to temporarily pause their monthly payment due to financial hardship that limits one's ability to make full payments as scheduled. An example of a reason for making this type of request would be a temporary hardship due to loss of income or employment.
Due to the current pandemic, we will waive the Skip Pay Fee when you use the promo code: “DRLF”.
What should I consider before making a request?
- If you added any insurance products to your loan, the terms of coverage will not be extended to your new maturity date. Please note that a deferred payment may impact Guaranteed Asset Protection (GAP) claims on vehicle loans.
- It is important for you to understand that Skip-A-Pay will increase your finance charge and the number of payments required to pay off the loan. Your final payment may also change.
- If eligible, you will receive a copy of your Skip-A-Pay request via DocuSign. If ineligible, you will receive an email notification providing a contact number if you need further assistance.
The Access Code to view the documents: the First Five Digits of your Social Security Number.
- If your payment is set up as Bill Pay or other online payment source – YOU must stop the payment from recurring for the payment skipped.
Will my credit be affected?
For approved skip a pay requests, we will not report a member as past-due to the consumer reporting agencies.
Skip-A-Pay Eligibility: Online Banking Instructions
Members can now log in to Online Banking to see "Skip-A-Pay Eligibility" within the top bar when viewing their account summary. If you choose to select the "Skip-A-Pay Eligibility" option, any eligible accounts will be presented along with due dates for you to select from for deferral.
Once you have selected the due dates you would like to skip, submit your request and a Docusign copy of the Skip-A-Payment request will automatically be sent to your email for your records. Please note, the access code to view the documents will be the first five digits of your social security number.
If you do not have any loans that are automatically eligible for a Skip-A-Pay, you will see the following message:
Use the “Skip-A-Pay Request” button below to submit an application for review.
To submit a request, select the Loan Type of “Skip A Pay”. Use the promo code: “DRLF”.