Summer is a time to relax and enjoy life! Take a much needed summer vacation on us by skipping your July loan payments. Simply fill out the form below, and we will advance the current due date on your loan by one month for $25 per loan, giving you plenty of extra cash to take your much needed vacation.
Below are a few things you should remember:
- Make sure the $25 fee per loan is in your primary savings account (you will be charged this fee before your loan skips).
- You must be current on all accounts with the credit union.
- If you have set up automatic transfers to your loan payment, you will need to log into online banking and advance your July payment(s).
- If the credit union set up your automatic transfers, we will advance your loan payment for you.
- Online banking will not show your new due date until three days before your initial due date.
- All requests must be submitted a minimum of 1 week in advance of loan due date, and before July 23, 2018.
- If your loan is paid weekly, bi-weekly, or semi-monthly, the agreement will allow you to Skip-A-Pay for two payments during July 2018.
By submitting this form, I am requesting Gulf Coast Educators to advance the due date equal to one month’s payment on all of my eligible loans. I understand that interest will continue to accrue during the “Skip-a-Pay” period and that by electing to “Skip-a-Pay” the total interest charge will increase and extend the time required to pay my loan(s) in full based on my required minimum monthly payment. GAP insurance may not cover skipped payments (refer to your GAP contract for details.)
Must have the $25 fee per loan in the savings account at the time of processing. Must be current on all accounts with the CU; excluding Advantage checking accounts that have not been negative over 30 days. You can not have done an extension the month prior to the skip a pay request. If you take advantage of the skip a pay, you will not be eligible for an extension the following month. Must have the request turned into the CU by July 23, 2018. Request must be submitted a minimum of 1 week in advance of loan due date. Loans secured by Real Estate, Term Loans, Credit Card, Workout Loans, 12-12-12 Loans, Delinquent Loans, or loans that have already received an extension in 2018 are not eligible. If your loan is paid weekly, bi-weekly or semi-monthly, the agreement will allow you the “Skip-a-Pay” for two payments during July 2018. New loans do not qualify for “Skip-a-Pay’s” unless three month’s worth of payments have been made.