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.
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).