Keep your cash. Skip a payment.
The holiday season brings the sense of togetherness we crave all year, but it can also bring financial stress. That's why we offer Holiday Skip-a-Pay so you can skip your November, December or January loan payments.
Here's how it works
You can skip your eligible loan payment once per calendar year for a fee. A six-month payment history is required to skip a loan payment, and you can skip payments on multiple eligible loans during at once.
- Auto loans
- Personal (signature) loans
- Motorcycle loans
- Toy loans (RV, ATV, etc.)
Skip-a-Pay fee: $25
If you don't have funds in your account to cover the fee, our system will add the fee onto your loan balance by default. Please make sure to have funds available before applying if you're not OK with this.
SKIP YOUR PAYMENT
Holiday Skip-A-Pay Program FAQs
Auto loans, personal loans, motorcycle loans and all other toy loans (RVs, ATVs, etc.). Mortgages, home equity loans, credit cards, all lines of credit and business loans are ineligible.
If you've skipped a payment on your loan in the last 11 months, whether it be for financial hardship purposes or another skip-pay program, your loan is not eligible for Skip-a-Pay.
You must submit your application and fee five business days before your loan payment due date.
If you have an automatic payment that is deducted from your Oregonians account, we will suspend the payment during the month you elect to skip. If your monthly payment is generated through a 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.
Yes, there's a $25 fee. When you apply, you can elect to pay the fee from your Oregonians checking or savings account. If you do not have sufficient funds in your account to cover the fee, the fee will be added to your loan balance.
Holiday Skip-A-Pay Program Disclosure
Oregonians reserves the right to deny this benefit to anyone who has not made scheduled payments on time. Holiday Skip-Pay is not available on loans during the first six months of the loan agreement, and it is not available to anyone who has not made continuous payments for the last six months. This offer is NOT applicable to credit lines, mortgage loans, home equity loans or past-due loans. Under most circumstances, one Skip-Pay request is allowed per calendar year.
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. Skipping a loan payment will extend your loan term past the original amortization schedule. 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.