loans

Loans

Skip-A-Pay

Choose when you would like to "Skip-A-Pay" on your qualifying loan(s) or Visa payment(s) to help you get through a tough stretch or just take a break from your payment(s)

To take advantage of Skip A Pay, please click the button below and return the form by bringing it into your local branch, fax or mail.

* Conditions to Qualify:
  • $35 processing fee per loan ($50.00 for loans over $50,000)
  • Member Account must be in good standing
  • Loan to be skipped can be no more than thirty days past due
  • Skips cannot be in consecutive months
  • New loans must have six months consecutive payments made on time
  • Only two skips per loan per rolling 12 month period (maximum six for the life of the loan)
  • All parties on the loan must sign this form
  • Mortgages, Home Equity Loans, Balloon Notes, Single-payment loans, loan terms greater than 126 months, and loans on summer skip repayment are exempt from the skip-a-pay program

*Form must be signed to be accepted. By skipping your loan payment you authorize South Jersey Federal Credit Union to defer your monthly payment and a $35.00/$50.00 fee for using the Skip-a-Pay program will be collected as part of the deferred payment program. Finance charges will continue to accrue on your unpaid balance. The Skip-A-Pay program will extend the maturity date on the loan (not including Visa) and my/our pledge of collateral will remain in effect until the loan is fully repaid. Selecting to skip-a-payment may negatively impact GAP coverage in place on a vehicle loan. All Bankruptcies must be discharged. The credit union reserves the right to determine if prior or subsequent action may disqualify your loan from this program.