We all need a little extra cash from time to time, especially around the holiday season. That’s why we’ve brought back our popular Skip-A-Pay program. Members with an auto loan, motorcycle loan, RV/boat loan, personal loan or share secured loan are invited to skip their loan payment for the month of December or January.

Eligible members may skip one payment per loan. There is a $20 processing fee for each loan you choose to skip. Just fill out the form below and submit it to us to skip your payment. If you are on payroll deduction, the payment will remain in your savings account. If your payment normally originates from another financial institution, you must contact them to cancel payment for the month. Complete terms and conditions are listed on the form.

If you have questions give us a call at 248-624-5222, or email lbailey@wlsefcu.com.

* Required Fields
Skip Payment Agreement: I/we, hereby request Walled Lake Schools Federal Credit Union to allow me/us to skip the payment(s) on the loan account(s) listed here, due on the month I/we have indicated. I/we understand that if this request is granted, interest will continue to accrue on the balance, and that skipping this payment will require me/us to make additional payments in order to pay off the loan(s).
Date:
 /   / 

Is there a Cosigner on the loan/s requesting a Skip-A-Payment?
Please deduct the $20 processing fee from my:
Indicate the month you would like to skip:
Please skip the following loan payment/s
Additional Loans
 
On this Skip-A-Payment request form, we have included the following statement: “The undersigned borrower and co-borrower/guarantor (if applicable) hereby makes a request to extend the original repayment terms of the loan(s) referenced here by one month. This extension in no way otherwise alters the original terms and conditions of the loan contract. Interest will continue to accrue on the unpaid balance of the loan at the agreed rate.” (All parties who originally signed the loan application must also sign the Skip-A-Payment request form.) 
Terms and Conditions
  • Only loans with at least six consecutive payments are eligible.
  • Skip-a-payment loans must be in good standing and not have been late within the last twelve months.
  • Interest will continue to accrue during the month of the skipped payment.
  • Skipping a payment will result in higher total finance charges than originally disclosed on your loans. You may contact a credit union loan officer for information on projected remaining interest due and APR.
  • Skip-a-payment will extend the maturity date beyond the original term of your loan.
  • If you elected GAP coverage, the coverage will not be extended beyond the original maturity date.
  • All skip-a-payment requests are subject to Walled Lake Schools Federal Credit Union approval.
  • Excludes all WLSFCU real estate secured loans, LOC loans, WLSFCU VISA credit cards and loans that have been granted a prior extension to relieve delinquency.
  • Member and Cosigner (if applicable) agree to Terms and Conditions and all borrowers MUST sign this form.  
I/we agree:
Security Code:

 

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