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If you need relief from your monthly loan payment, you’ve come to the right place.

How to skip your loan payment

Sometimes an emergency or other essential expenses pop up and you may need a little more cash than you budgeted for this month. Skipping your monthly loan payment may help. Focus on your other needs and breathe easy this month.

Easily apply for Skip-a-Pay in Online Banking. Log in, choose Payments in the top menu, and select Skip-a-Pay. Or give us a call at 888.267.7200.


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Qualifications and eligible loans:

FEE: A $35.00 Skip-a-Pay Fee will be assessed for each approved request.

MEMBERSHIP: You must be a member in good standing with Lake Trust Credit Union and all of your loans at Lake Trust must be current (less than 10 days delinquent).

NUMBER OF SKIPS: Limit two (2) skipped payments in one 12-month rolling period for each eligible consumer loan. A maximum of 10 skipped payments are allowed for the life of the eligible loan.

LOAN ELIGIBILITY: Each loan you are requesting a Skip-a-Pay for must be at least 180 days (6 months) old, current (less than 10 days delinquent), and cannot have been in delinquent status more than 30 days within the past 6 months. Additionally, each loan you are requesting a Skip-a-Pay option for cannot be paid ahead more than 60 days and Collateral Protection Insurance (CPI) cannot be in effect at the time of the Skip-a-Pay request.

EXCLUDED LOANS: Personal Lines of Credit, Home Equity loans, Home Equity Lines of Credit, Consumer Credit Cards, Student Loans, Auto Saver Loans, Mobile Home Loans, Mortgages, Business Purpose Loans, and Commercial Business Loans, Commercial Lines of Credit and Commercial Credit Cards are NOT eligible for the Skip-A-Pay program.

SUBJECT TO APPROVAL: Lake Trust reserves the right to deny a Skip-a-Pay request, including delinquent loans, loans that are involved in a bankruptcy or collection action. See Skip-a-Pay Terms and Conditions for more details.