- Your accounts must be in good standing and the eligible loan must be current.
- Each loan you are requesting a Skip-a-Pay must be at least 120 days (4 months) old, and all loans, including your Visa® credit card, must be current.
- Personal revolving lines of credit, home equity loans, home equity lines of credit, and commercial business loans/credit cards are NOT eligible for the Skip-a-Pay program.
- Limit two skipped payments in one 12-month rolling period for consumer credit card loans. Limit four skipped payments for all other eligible consumer loans. Limit two skipped payments in one 12-month rolling period for eligible micro business loans.
- Lake Trust reserves the right to deny a Skip-a-Pay request, including delinquent loans and loans that are involved in a bankruptcy or collection action.
- See COVID-19 Skip-a-Pay Program Terms and Conditions for more details.
Even if your loan doesn't meet the criteria above (excluding personal and micro business lines of credit), we encourage you to submit a Payment Relief Request. Our team will reach out to you by email or phone to see if there is anything else we can do assist you.
Other Things to Know
- After you submit your request, you'll receive an email of approval or denial within 3 business days.
- Please submit your request at least 7 days before your payment is due.
- You're still responsible for making your loan payment on time unless you receive confirmation that your Skip-a-Pay request is approved.
- Please submit a separate request for each loan payment that you want to skip.
If you need to skip your payment, complete an application to get started.