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2011 Holiday Skip-a-Payment

2011 Holiday Skip-a-Payment-2025

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The document is a promotional offer from Lake Michigan Credit Union allowing members to skip their December 2011 loan payment for a fee of $25 per loan. It outlines the eligibility requirements, including that all loans must be current and specifies that certain types of loans cannot be skipped. Members are required to complete a form and return it before the due date to take advantage of this offer.

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Click ‘Get Form’ to open the 2011 Holiday Skip-a-Payment document in the editor.
Begin by entering your personal information in the designated fields: Name, Address, City/State/Zip, and Daytime Phone. Ensure all details are accurate for processing.
Locate the ACCOUNT NO. & SUFFIX section and input your account number along with the suffix associated with your loan.
Select your LOAN TYPE from the options provided. Remember that certain loans like mortgages and credit cards cannot be skipped.
Indicate how you wish to pay the $25.00 skip-fee per loan skipped by checking either Checking or Savings, ensuring you have sufficient funds available.
Review the understanding statement regarding payment extension and interest calculations before signing and dating the form at the bottom.
Once completed, save your changes and return the form via mail or at a branch before your December payment is due.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is holiday skip a pay?

With the Holiday Skip-A-Pay program, you can apply to skip one monthly payment on each qualifying loan for a small processing fee of just $35 per skipped payment.

What is a holiday skip a payment?

Skip-a-payment is a program allowing members to skip a monthly loan or (with some institutions) a credit card payment without penalty during an especially tight financial season. Most credit unions offer this program during the holidays and during the summer vacation season.

What does skip a payment mean?

Skip-a-Pay allows you to skip a paymentusually on an auto or personal loanfor one month, without penalties or an impact on your credit score.

Can you skip a car payment for Christmas?

Online and phone payments made on the due date, by the required time, are on time and are not late, even if it is a holiday. As long as you made the payment by the time deadline, youll be fine. If you missed the time deadline, just call and ask them to reverse the late payment.

How does a skip a payment work?

When you skip a payment, you essentially delay making a loan installment for a specified period, such as one month. The skipped payment is then typically added to the end of your loan term. This means the final payment date is extended by the amount of time you chose to defer the payment.

Is a payment holiday a missed payment?

A payment holiday is a short-term pause from your monthly payments. The people you owe may agree if you are finding it hard to keep up with payments. You can ask for a payment holiday from credit cards and mortgage payments. The missed payments during this period are likely to be treated as arrears.

Will holiday skip a pay-on loan ruin my credit?

Taking the skip will result in you paying more interest. Even if you make an interest only payment, interest will accrue for longer on a higher principal balance. If you need the help, its not the worst thing you can do but it is revenue for the financial institution and thats why they are offering.

2011 Holiday Skip-a-Payment-2025

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