Take a Break from Loan Payments with Skip-A-Pay!
Skip A Payment Any Month of the Year!
With Navigator’s Skip-A-Pay, you can skip a loan payment any time that’s right for you. Free up funds during the month of your choice, when you need them most. Then use your cash for travel, entertainment, school or holiday shopping, unexpected bills, taxes or to just plain catch up!
As a valued Member of Navigator Credit Union, you may be qualified to participate in our Skip-A-Pay program. Have more than one eligible loan? Skip a payment on each one!
As a benefit of membership, we’re offering Members the option to choose to “skip” up to two loan payments per year (per loan). You are welcome to skip a loan payment if:
- You have made at least six (6) consecutive payments on your loan;
- Your Navigator Credit Union accounts are in good standing and your loans are current.
It’s our way of thanking you for your loyalty and telling you how much we appreciate you! Any month of the year, you can request to skip your loan payment with just a $20 processing fee per skipped loan payment with up to two (2) skipped Navigator Credit Union loan payments (per loan) in a 12 month period.
Are you ready to skip? Just give us a call or visit a Branch!
Call 800-344-3281 or Visit Any of Our 12 Convenient Branches!
If this sounds like the solution you need, review the eligibility guidelines below, and contact us to get started. If you have any questions or would like to discuss any available options for a loan not eligible for Skip-a-Pay, please call us at (800) 344-3281.
- Eligible loan(s) must be open for more than six (6) months and have at least a 6-month payment history.
- No more than one (1) skip within a six (6) month period.
- Maximum of three (3) skips per loan with terms up to 84 months.
- Maximum of six (6) skips per loan with terms of more than 84 months.
- If you elect to skip a payment, your loan term will be extended by one month, which may increase the total interest paid over the life of the loan. Regular payments resume the following month and interest will accrue on the unpaid balance.
- All Skip-A-Pay requests must be received at least seven (7) days in advance of the loan payment due date you want to skip.
- Credit cards, lines of credit, home equity lines/loans and mortgages are not eligible for Skip-A-Pay.
- There is a processing fee of $20 per skip per loan.
Take a break from loan payments with any time Skip-A-Pay!
Member request and Credit Union approval required for all skipped payments. All requests subject to final approval. Skip-A-Pay is not available on mortgage loans, home equity loans, credit cards or lines of credit. Member must have made at least six full payments on the loan. All loans must have an on-time payment history with no delinquencies. Only two skip-a-payments per 12-month rolling period. The skip-a-payments must occur six months apart. Interest and finance charges will continue to accrue on the outstanding balance during the skip-a-payment period. Regular payment schedule will resume in the month immediately following the month of the skipped payment. Payments regularly made through Payroll Deduction will be redirected to the Member’s direct deposit account or paycheck. Except for this change to the payment obligation, all other terms and conditions of the original loan contract remain in effect as disclosed. Skipping a payment will extend the term of the loan. Participation in the Skip-a-Pay program may reduce future claims by the amount of deferred (skipped) payments for loans with GAP coverage. Navigator reserves the right to deny Skip-a-Payment requests for any reason and to discontinue the Skip-A-Pay program at any time.