Skip-a-Payment
We recognize that our members may face unexpected financial challenges from time to time. We offer a Skip-a-Payment program to provide some relief during difficult periods. This program allows you to skip a scheduled loan payment, if eligible, without facing penalties or negatively impacting your credit score.
How Does It Work?
Jax Fire’s Skip-a-Payment program allows members to skip one monthly payment as long as their accounts are in good standing and there have been 6 months of payment history before the skipped payment date.
Interest continues to accrue during the month that was skipped at the rate stated in the loan agreement. Skip-a-pay will extend the loan period by one month and you are required to resume your regularly scheduled payments once the skip period has ended.
ELIGIBILITY
Loans that are eligible for a skipped payment include:
- Auto Loans
- Recreational Vehicle loans (RVs, Boats, Motorcycles, and ATVs)
- Share-secured and share certificate-secured loans (if scheduled for monthly payments).