Skip A Loan Payment

Skip Request Form

Please Note: You may not skip a payment on a loan more than 30 days past due. You may not skip a loan payment already applied to your loan. If your loan is past due, please call our Collections Department at 1-866-746-0073.

Name

Address

City

State

Zip

Primary Email

Month to skip:
Choose one. For bi-weekly loans, use the first payment date of the month.

January February March April May June July August September October November December  

Select which loan(s) you want to skip:

Vehicle
Personal
RV/Motorcycle/Boat
 

Loan Number
THREE DIGIT LOAN NUMBER

Loan Due Date

How do you pay your loan?

Check one.

Automatic transfer (Hanscom FCU account)
Automatic transfer (another financial institution/payment service)
 

YES! I want to take advantage of the Hanscom Federal Credit Union Skip-A-Payment. Program.

I have read and agree to the terms below. If your loan is paid bi-weekly, all payments due in the month you select will be skipped. A $25.00 fee applies for each loan you skip. Skip payments will not be valid until all fees have been paid. The fee is deducted automatically from your savings or checking account. A withdrawal for fees must not bring your prime share savings account balance below the membership requirement of $5.00. By skipping your payment, you will extend the term of your loan. The final loan payment will be extended by one month each time you skip your payment. Payment protection for disability or life insurance covers only the original term of your loan. Loan extensions beyond one month will not be covered. All other terms will remain the same. Only primary loan holders may request to skip a payment. You may request to skip your payment once every 12 months on each qualifying loan. This offer does not preclude late fees on skipped payments if this form is not received within the normal grace period for your loan. A request to skip a payment will not stop an automatic payment from another financial institution. Please contact your other financial institution if you wish to stop the transfer. Interest will continue to accrue on the unpaid balance during the month you skip your payment, and when payments resume, the unpaid interest will be collected first. You may not skip a payment on a loan more than 30 days past due. You may not skip a loan payment already applied to your loan. Hanscom Federal Credit Union reserves the right to refuse any request to skip a payment. Better than a Lease, credit cards, consumer loans that use real estate as collateral, student loans, and mortgage loans may not be skipped.

Security Please enter the code shown in the image

 

Frequently Asked Questions

• Will my loan rate be affected?
  

  No. Your rate will be the same as it would be if you had not skipped your payment.

• What if my payment is made automatically from my Hanscom FCU account?
  

  We will take care of all the details. You will not need to do anything further after making your request.

• Will I be responsible for interest and finance charges?
  

  Interest will continue to accrue on the unpaid balance during the skipped payment period. When payments resume, interest and applicable finance charges will be collected first.

• What if I have already made one biweekly payment? Can I skip the next one that month?
  

  Your skip payment request must be completed in the same calendar month. If you have already made one biweekly payment, your request will be applied to the next month’s payments.

• Who can I contact with questions?
  

  Please feel free to contact us by email at info@hfcu.org. Do not include sensitive personal information, such as your member number. You may also send a secure message from Online Access HD, call us anytime at 800-656-4328 or stop by a branch.

• Will a skipped payment affect my credit?
  

  No. Your credit profile will not be affected. Your loan will be reported paid as agreed.

• My loan is past due. Can I skip the payment?
  

  Loan payments more than thirty days past due may not be skipped. If your payment was due less than thirty days before the date you request, we may, at our discretion, honor your request.

• Can I add the fee to my loan balance?
  

  No. Skip payment fees must be paid before your request is approved. The fee will be debited from your Hanscom FCU checking or savings account. If you make a deposit to cover the fee, we will approve your skip request once the funds become available.

• Can I get back a payment I’ve already made?
  

  No. A payment already applied to a loan may not be skipped.

• What if I make biweekly payments?
  

  We will skip all payments in the month you have requested, starting with the first payment in that month.
  
  

• Will any other terms be affected?
  

  Your final loan payment date will be extended by one month. Payment protection for disability or life insurance covers only the original term of your loan. Loan extensions beyond one month will not be covered. Skipping your payment can impact the total GAP insurance paid out in the event you need to file a claim for GAP coverage. All other terms will remain the same.

• How can I find out if my skip payment has been granted?
  

  Please feel free to contact us by email at info@hfcu.org. Do not include sensitive personal information, such as your member number. You may also send a secure message from Online Access HD, call us anytime at 800-656-4328 or stop by a branch.

• What loans can I skip?
  

  You may request to skip any consumer loan except Better Than a Lease, real estate secured consumer loans, credit cards, reserve lines of credit, student loans, and mortgages.

• What if I do not have the $25 per skipped payment available when I submit my request?
  

  If you do not have the $25 processing fee, per skipped loan available at the time of the request, your Skipped Payment will not be processed.

• What if my payment is transferred automatically from another financial institution?
  

  Please contact your other financial institution to cancel the transfer. We are not authorized to stop the transfer for you. Allow three business days from your loan due date to stop the transfer. Be sure the transfer will be cancelled for one month only, so that you won’t inadvertently miss or be late on your following loan payments.