Skip a Payment
Skip a monthly payment on a qualifying loan when you meet certain program qualifications. Need a little extra cash? Skipping your next loan payment could be just what you need to get ahead. You can request to skip a payment anytime, 24/7, through online banking or the mobile app. We’re here to help you stay on track!
Take a Break From Your Loan Payment
Request In
Mobile App
Request In
Online Banking
Other Ways
To Request
Skip-a-Pay
Rules
Skip a Payment In The Mobile App
The easiest and most convenient way to skip your next loan payment is through the Honor mobile app. Simply follow these four easy steps:
How To Do It
1. Log in to the mobile app.
2. Tap Accounts on the bottom menu bar.
3. Tap the eligible loan you wish to skip a payment on.
4. Tap “Skip A Payment” and follow the prompts.
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Skip a Payment In Online Banking
Skipping a payment in online banking is easy! Simply follow these three steps:
How To Do It
1. Log in to online banking.
2. Click the eligible loan you wish to skip a payment on.
3. Click “Skip A Payment” and follow the prompts.
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Other Ways To Skip a Payment
Email or Text
If you don’t use Honor’s online banking, you can still skip a loan payment. Download the form below and return it to us via email, text, or print it and drop it off at a local Honor member center.
- Download the Skip Payment Form and fill it out on your computer or mobile device.
- Email the filled out form to memberservices@honorcu.com.
Text
- Download the Skip Payment Form and fill it out on your mobile device.
- Snap a clear picture or screenshot of the entire filled out form on your phone and text it to 800.442.2800.
In-Person
If you don’t feel comfortable submitting your Skip-a-Pay form digitally, you can always stop by a local member center and complete the process in-person.
In-Person
- Download the Skip Payment Form and fill it out.
- Return the filled out form to an Honor team member at a local member center.
Official Rules
- Your account must be in good standing. This means all loans and account balances must be current and in good standing when the Skip Pay Coupon is received by the credit union.
- Loan must be open for a minimum of (6) months prior to skipping loan payment.
- Limit (3) skip pays per calendar year and skipped payments cannot take place in consecutive months.
- Form must be signed by at least one borrower.
- Real estate, lines of credit, and credit card loans are not eligible for this offer.
- Limit (8) skip pays per life of any specific loan.
- There will be a $40 skip pay application fee per loan. If you choose to have the application fee deducted from your credit union account, the funds must be available for withdrawal.
- If you choose to skip your payment and your loan payment automatically transfers from an Honor account, it will not transfer during that month. You will not need to do anything with your automatic transfers, except in the following circumstances:
- If you skip the payment on the day it’s due, please contact the credit union to stop the automatic transfer and for assistance advancing your due date forward.
- If you choose to skip your payment and your loan payment automatically transfers from an outside source, you’ll need to contact the automatic payment source to stop that month’s payment.
By completing a Skip-A-Payment you are requesting Honor Credit Union to advance the loan due date equal to one month’s payment. You understand that the current balance of the loan is extended by the amount of the payment skipped and that interest will continue to accrue on your loan balance throughout the deferred payment period, which may further extend the term of your loan. If there is more than one borrower on a loan, only one borrower is required to authorize a Skip-A-Payment request. Using Skip-A-Payment on an auto loan may impact your GAP (Guaranteed Asset Protection) benefit if applicable. Please note that GAP coverage only allows for one skip payment for the life of the loan. If GAP was purchased at the dealership, these restrictions could differ. For more information on your GAP coverage, please give us a call at 800.442.2800.
