What are the Skip-A-Pay program eligibility requirements?
- The loan must have been open for at least six months.
- The loan cannot be more than 11 days past due at the time the skip-a-pay request is made.
- Payments cannot be skipped in consecutive months and cannot be skipped more than twice in any twelve-month period.
- Mortgages, home-equity loans, and VISA® credit cards (including share-secured credit cards) are not eligible.
- Fortis Edge Capital reserves the right to decline a Skip-A-Pay request due to poor payment performance or any other circumstance we deem derogatory related to a member’s account(s).
- Interest continues to accrue on skipped payments based on the outstanding principal balance. This may result in a reduction in the amount of principal paid by subsequent payments.
- Any credit life, disability, debt protection, and/or GAP coverage on a given loan may not extend beyond the original maturity date.
If you have any further questions about this, call us at 206.398.5500 or send us a message.