Inspirus: Skip-A-Payment | Inspirus Credit Union FAQs

Inspirus: Skip-A-Payment

The following are common questions from our members and the answers that normally fulfill the associated need. If you have additional questions, please feel free to contact us directly via phone at 206-628-4010, toll free at 888-628-4010 or via secured message within your digital banking account.

What is Skip-A-Payment?

Skip-a-Payment allows you to defer your usual monthly loan payment (on eligible loans) without affecting your credit rating.

The missed payment is simply added to the end of your loan term, for example, making a 60-month loan a 61-month loan. It's a great option for months when money is tight.

Loans Eligible for Skip-A-Payment
  • Vehicle loans (including boat, RV, motorcycles and other recreational devices)
  • Personal Loans (credit cards NOT eligible)
  • Loans have to be open 6 months to be eligible to for a Skip-A-Payment
  • Loans must be within grace period and in good standing in order to qualify. Accounts with negative balances are not eligible.
How many times can I Skip-A-Payment?

You may skip two payments per loan for any 12-month period. At least 90 days must pass between each skip payment.

Is there a Skip-A-Payment Fee?

Yes. A fee of $20 will be collected for each skip payment. You may choose to pay from any savings or checking account under the same account number as your loan. Funds must be in the account to process the Skip-A-Payment. If your are denied a Skip-A-Payment you don't pay the $20 fee.

How do I apply for a Skip-A-Payment?

Call the Contact Center 206-628-4010 and apply over the phone.

Online, take the following steps: Log into your account through Digital Banking. Select the MESSAGE CENTER Select Compose from the menu at the top. Select "SKIP A PAYMENT" from the drop down list to the right of Subject. Select the account from the drop down list to the right of Account. Provide us with the information requested in the message and press the Send Message button.

Come into an Inspirus Credit Union branches and work with a Personal Financial Representative.

Why doesn't my loan appear in the "Loans eligible to be skipped" section?

All loans will be displayed whether they are eligible for skip-a-payment or not. You will not receive an immediate decision when you apply for skip a pay; you will receive a decision within 1 business day.

Please call 1-888-628-4010 to speak with a Member Service Representative for more information.

The following loans are not eligible for skip payment:

  • Visa credit cards
  • Co-signer loans
  • Home Equity Loan
  • Home Equity Lines of Credit
  • Overdraft Protection

Loans must be within grace period and in good standing in order to qualify. Accounts with negative balances are not eligible.

I have an automatic payment for my loan. Will it stop to accommodate the skip payment?

All automatic payments made directly to your loan from an Inspirus Credit Union savings or checking account or an outside institution (that you've authorized us to debit) will be deferred until the following month.

All direct deposits, payroll deductions, and ACH direct transfers made to a savings or checking account will continue to be deposited but we will not make a debit for the payment.