This is a request only. The submission of this form does not mean you have qualified or have been approved for a Skip a Pay. This intake form is only to forward your request for a Skip a Pay to the Ignite CU Member Service Team. A Member Experience Representative will review your request and will get in touch with you for approval or denial and/or other member benefit options.
This authorization allows available funds to automatically transfer from a linked account to your checking account if a transaction would otherwise overdraw your account. This is an ongoing authorization and not a one-time transfer request.
By submitting this Skip a Pay request, you agree to pay the $35.00 application fee.
I understand this is a request only and by submitting this I am not guaranteed the Skip a Pay will be applied to my account. Submitting this request means I do agree to pay the $35.00 application fee regardless of my Skip a Pay request outcome. I understand the application fee is non-refundable.
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Not sure if your loan qualifies for Skip a Pay? Read 'What are the Restrictions' below.
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Yes. I am aware that Skip a Pays can only occur on a loan account twice a year. And that I have not exceeded that twice-a-year requirement.
How Does Skip a Pay Work?
Members can skip a monthly installment loan payment and add it to the end of their loan twice a year. Member must wait 60 days in between skips. A member can take advantage of two skips per year with a maximum of 6 skips over 60 months and an additional 1 skip per additional year for the remainder of the life of the loan.
Yes. I have read and I understand the above 'How Skip a Pay Works'.
How Does Skip a Pay Affect My Loan?
f the loan is covered by payment protection insurance, coverage will terminate under the contract’s original final payment date. If the loan has GAP, skipped payments will not be covered in a GAP claim. The member’s final payment may be larger than their regular payment because of interest that has accrued on the skipped payment.
Yes. I have read and I understand the above 'How Skip a Pay Affects My Loan'.
What do I Need to be Considered for Approval:
Must be a member in good standing. Must be a closed-end loan. Open-end loans, including credit cards, are not eligible to skip a payment. Members considered “past due” or “delinquent” greater than five days are not eligible for a skip. Must have made six monthly payments on a new loan prior to getting a payment relief. All documentation with Ignite CU must be current. Must pay $35 non-refundable application fee and current interest that's due.
Yes. I have read and I understand the above 'Skip a Pay Approval Considerations'.
What are the Restrictions?
Members considered “past due” or “delinquent” greater than five days are not eligible for a skip. Member may not participate in the Ignite payment relief program while the loan is under any modification program (TDR loans are not eligible to participate in the payment relief). Any loan balance $2,100 or less is ineligible to do a payment relief option. Payment Relief does not apply to any ????????????????.
Yes. I have read and I understand the above 'Skip a Pay restrictions'.
Is There a Fee to Skip a Pay?
By submitting this Skip a Pay request, a $35.00 application fee for Skip a Pay will apply. Or, you can redeem 8,000 VIP points for each Skip a Pay completed. Application fee is non-refundable.
Yes. I have read and I understand the above 'Skip a Pay fees'.
By submitting this Skip a Pay request, you agree to pay the $35.00 application fee. This fee in non-refundable.
This intake form is only to forward your request for a Skip A Pay to the Ignite Credit Union Member Service Team. A Member Experience Representative will review your request and will get in touch with you for approval/denial and/or if additional information is needed to process your request.
Your Skip a Payment request has been submitted. A Member Experience Representative will reach out to you shortly.
