Take Control of Your Budget Today
Life happens, and sometimes you need a little extra breathing room in your budget. Whether you're planning a vacation, covering unexpected expenses, or managing seasonal cash flow, Sunmark's Skip-a-Pay program gives you the flexibility to pause your installment loan payment when you need it most.*Our simple online process makes it easy to skip up to two payments per eligible loan each calendar year. With just a $55 processing fee and five days advance notice, you can take control of your financial schedule and focus on what matters most.
Why Choose Sunmark's Skip-a-Pay Program?
- Skip any month that works for you
- Up to 2 skips per eligible loan annually
- Simple online application process
- Just $55 processing fee per skipped payment
Skip-a-Pay Questions & Answers
Get answers to common questions about skipping your loan payment with Sunmark Credit Union.Yes, interest will continue to accrue on your outstanding principal balance. Your loan term will be extended, and your final payment may be due one month later than originally scheduled.^
*I understand that the Skip-a-Pay Offer form must be received by Sunmark Credit Union five or more days before my due date of the month I wish to skip. I will be eligible to skip only my loan payment(s) normally due on the above loan(s) for the month in which I complete the form by the due date. If my loan payment is delinquent, or I am not a member in good standing, I understand that I am not eligible to take advantage of this special offer. I also understand that interest will continue to accrue on my outstanding principal balance during deferral period, and the term of my loan(s) will be extended. Any elected GAP or Debt Protection covering my loan will not be extended beyond the original maturity date outlined in my loan agreement, which means that participation in this offer will reduce future GAP/Debt Protection claims. Except for this change to my payment obligation, all other terms and conditions of the original loan agreement remain in effect as disclosed. I understand that if I fail to complete the form five or more days before my due date of the month before my chosen loan payment to be skipped, or if I have not paid the $55 per loan by that date, my normal loan payment(s) will be made as agreed, including automatic transfers, in that month. Should this occur and funds are not available to complete my normal loan(s) payment(s), I may be subject to late fees as outlined in my loan agreement. By voluntarily accepting this offer, I understand that should the $55 payment or loan payment overdraft my account, I am liable for additional fees as outlined in my account agreements.
^Member request and Credit Union approval required for all deferred payments. Deferment of this payment will extend the life of your loan and may cause an increase in the final payment amount.
^Member request and Credit Union approval required for all deferred payments. Deferment of this payment will extend the life of your loan and may cause an increase in the final payment amount.
