2023 Winter Skip Payment Form
***YOU WILL RECEIVE A NOTIFICATION AND AN EMAIL ONCE THE FORM IS SUBMITTED. IF YOU DON’T RECEIVE THESE NOTIFICATIONS, YOUR FORM WAS NOT SUBMITTED, AND YOU WILL NEED TO RESUBMIT.***
Complete the form below to request skipping a loan payment for December or January.
A processing fee of $45.00 per loan must be received to process your Skip Payment request.
By participating in the Red Crown Skip Payment program, you request that Red Crown defer your loan payment(s) as indicated. You agree and understand that: 1) Loans must have six monthly loan payments to be eligible; 2) All co-signers of the loan must agree to the Skip Payment program and sign the request; 3) FINANCE CHARGES will continue to accrue at the rate provided in your original loan agreement, during and after this time; 4) Deferring your payment will result in your having to pay higher total FINANCE CHARGES than if you made your payment as originally scheduled; 5) The payment deferral will extend the terms of your loan(s) and you will have to make extra payment(s) after your loan(s) would otherwise be paid off; 6) You will be required to resume your payments the following month; 7) If there are insufficient funds to cover the processing fee in the account you’ve indicated for withdrawal, your payment will not be skipped; 8) If you elected GAP or Warranty Coverage, the coverage will not be extended beyond the original maturity date; 9) The loan cannot have been a collection problem and must be current or within the 15 day grace period for the loan payment to be skipped. 10) If you make your payments via direct deposit (ACH) from this or another financial institution, your ACH origination will be put on hold. Please have this form to us at least one (1) WEEK before your payment date to allow us time to put a hold on your payment. All deferrals are subject to Red Crown approval. Loan(s) must be current (have no amount past due) to accept this offer. Certain restrictions may apply. Excludes all business, real estate, and credit card loans.
Skip Payment Agreement: I/we, hereby request Red Crown to allow me/us to skip the payment(s) on the loan account(s) listed here, due on the month I/we have indicated. I/we understand that if this request is granted, interest will continue to accrue on the balance and that skipping this payment will require me/us to make additional payments in order to pay off the loan(s).