Skip A Pay Terms and Conditions

Dort Financial Credit Union Consent for Online Skip-A-Pay Program

Terms and Conditions

By clicking the “Continue” button I understand and agree to the following terms and conditions:

I am requesting to skip the payment(s) on the indicated loan(s).

Interest will continue to accrue on my outstanding balance during this time and term of my loan(s) may be extended each time a Skip-A-Pay is approved.

For payments I generate (for example, payments set up with a bill pay service, payments initiated at another financial institution, etc.) I am responsible for stopping the payment for the month I wish to skip. Any automatic transfers generated by Dort Financial will be suspended for the month the payment is skipped if the request is received two (2) business days prior to the due date.

If I have any form of voluntary insurance or warranty coverage (examples include but are not limited to: Credit Life, Credit Disability, Guaranteed Asset protection (GAP), and Vehicle Warranty) in connection with the loan(s) on which I elect to skip, such coverage may be impacted by the skip. I understand I must contact the third party company through which the product(s) is/are offered to ensure the Skip-A-Pay will not affect my coverage.

Payments will be made in the regularly scheduled amount every month until I have paid all of the principal and interest and any other charges I may own under the Loan Agreement.

A processing fee of $30 per loan is due and payable each time a skip a pay is permitted. I authorize the credit union to debit my savings or checking account for the associated fee(s).

The Skip-A-Pay program is not available on Drive Now, Commercial, Real Estate, Lines of Credit/Visa, Quick Cash, Fresh Start, Student, Special Program Loans and Auto Leases.

Skip-A-Pays will not be permitted on any loan more than two (2) times in any period of twelve (12) consecutive months. After the first Skip-A-Pay a waiting period of 30 days will be required before the second Skip-A-Pay is granted.

Loans must be opened for a minimum of 90 days and not past due.

The credit union reserves the right to revoke this offer if any of my accounts are in default, or if I fail to meet any other conditions or criteria of this offer as specified herein

Dort Financial Credit Union reserves the right to modify the program, or any aspect or feature of the program, at any time without prior notice.

All Skip-a-Payment requests are subject to approval.