Skip
a Loan Payment!
Perhaps you’d like to do something special
this year. Would a little extra cash make things easier?
If you've made more than three consecutive payments on your loan then this option can work for you. Skip your SELCO consumer loan, Visa or line of credit* payment(s) for a month. Just pay a $30 fee for each individual loan/payment
you skip and you're on your way to taking
a break from your monthly payments. (Upon approval - fee
will be automatically deducted from your account). You
may be able to skip a payment even if you’ve already
had one skip this year!
 Skip
a loan payment
Please Note: If
your loan or credit card payment is paid automatically, the funds for the payment
will not be transferred to the loan/credit card and will remain in your account.
You need not do anything other than submit the skip payment application. When
your payment is skipped, your loan term is extended and you resume your payments on
the next due date. For complete terms, see below.
* TERMS & CONDITIONS
Requests must be received 10-day prior to the loan payment due date. Skip Payment fee ($30) will be automatically deducted from your account
and applies to each individual payment skipped. Interest will continue to accrue
on the outstanding balance, and may extend the term of your loan. Skipped payments
normally made by automatic payment transfer from other financial institutions
will not be altered, and will be deposited into member’s checking or savings
account. Account must be in good standing to be eligible. Mortgage, home equity
loans, business, lease-alternative, and real-estate-secured loans are not eligible.
SELCO will not back-date skip payment requests. A minimum a 3 consecutive payments must be made to be eligible for skip payment option. No two consecutive Skip Payments
are allowed and a minimum of 3 consecutive payments must be made between skipped payments. Skip
payments are subject to approval. Maximum 2 skip payments in a 12 month period. Other
restrictions may apply.
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1-800-445-4483