Holiday Skip-Pay
Yep, you can skip your loan payment this holiday season if:
- The payment is for an auto, personal, motorcycle, recreational, or share-secured loan.
- The loan has been open for more than six months.
- You're not past-due on your payment.
- You haven't skipped a payment this year due to hardship reasons.
If your loan meets the above criteria, you can skip a payment this November, December or January.
Please submit one application per eligible loan.
Holiday Skip-Pay Program Full Disclosure
Oregonians reserves the right to deny this benefit to anyone who has not made scheduled payments on time. Skip-Pay is not available on loans during the first six (6) months of the loan agreement. At minimum, your prior six monthly payments must have been made on time and without having been skipped in order to qualify. Under most circumstances, one Skip-Pay request is allowed per calendar year. This offer is NOT applicable to credit lines, mortgage loans, home equity loans or past-due loans.
This application is a request to skip one month’s full payment on an eligible loan type (auto, signature/personal, RV, motorcycle). Finance charges will continue to accrue on a daily basis at the Annual Percentage Rate set forth in your loan agreement, both during and after the deferral period. This means that this deferral of scheduled payments will result in paying a higher total finance charge and possibly a greater total number of payments. In all other respects, the provisions of your original agreement remain in full force and effect. By submitting, you agree that your loan term may extend the original amortization schedule and that you will resume making scheduled payments beginning with the payment due during the month following the deferral and will make all scheduled payments due thereafter. Your next monthly payment will include the finance charges from the skipped month. Monthly fees for debt protection will still be added to the loan balance on the skipped month. Skipping a payment may reduce the amount of GAP claim. Please refer to your GAP policy for complete information.
If your monthly payment is generated through an automatic bill payment service or initiated automatically at another financial institution, you are responsible for stopping the payment for the month you are approved to skip. If you elect to withdraw the $25 processing fee from your Oregonians checking or savings account and you do not have sufficient funds available, the fee will be added to your loan balance.
You authorize Oregonians to suspend any automatic transfers generated by Oregonians for the Skip-Pay month.