Get Loan Relief With Sno Falls Skip Pay!
What Is Skip Pay?
Whether you’re facing financial hardship, catching up on bills, anticipating a major purchase, or saving for the perfect holiday gift, you can use Sno Falls Skip Pay to defer one payment on your current Sno Falls loan(s).* Skip Pay is only available for the months of November 2023, December 2023 or January 2024. Any skipped payment will be added to the end of your loan’s term.
Sno Falls will charge a small processing fee of $25.00 for each skipped payment.
*Terms and Conditions Apply.
Qualifications
• Your Sno Falls account(s) must be in good standing to apply for Skip Pay.
• Your loan must have at least 3 consecutive payments made prior to the skipped payment. Skip Pay can only be used once every 12 months on any eligible consumer loan(s).
• Your loan must be under a 120 month term.
• You cannot have any loan delinquency for more than 30 days.
• You cannot have any bankruptcy or charge-offs.
• Your loan payment must be more than $100.00.
• Your loan balance must be more than $1,000.00.
• Auto, Sport Vehicle, Boat, RV, Motorcycle, Line of Credit and Consumer loans are eligible for Skip Pay.
• HELOC’s, Mortgages, Business and Commercial loans, Delinquent loans and loans over 120-month amortization are not eligible for Skip Pay.
How To Use Skip Pay
Please complete our Skip Pay request form in order to utilize Skip Pay. Request forms must be received at least five (5) business days prior to your loan payment date in the month you would like to use Skip Pay.
You can use Skip Pay for any loan that qualifies. You must submit one Skip Pay Request Form per loan, with your Sno Falls account number and Loan ID specified.
*Terms and Conditions Apply.
How is my loan interest affected during Skip Pay?
Interest continues to accrue during the extension month at the agreed-upon rate stated in the loan agreement. Skip Pay will extend the loan period by one month.
When can I use Skip Pay?
Skip Pay is available for your loan November 2023, December 2023 or January 2024. Request forms must be received at least five (5) business days prior to your loan payment date in the month you would like to use Skip Pay.
I have multiple loans through Sno Falls. Can I use Skip Pay for all of them?
Yes. You can use Skip Pay for any loan that qualifies. You must submit one Skip Pay application per loan, with your Sno Falls account number and loan ID specified.
What types of loans are eligible for Skip Pay?
Auto, Sport Vehicle, Boat, RV, Motorcycle, Line of Credit and Consumer loans are eligible for Skip Pay. HELOC’s, mortgages, business and commercial loans, delinquent loans and loans over 120-month amortization do not qualify.
Will I be penalized for Skip Pay?
No. Skip Pay won’t negatively impact your credit rating or loan interest rate. Sno Falls will charge a small processing fee of $25 for each deferred (skipped) payment. The skipped loan payment will be added to the end of your loan term, and it will not be due at a sooner date.
What if I have automatic payments scheduled for my loan?
If you have automatic payments (ACH) set up for your Sno Falls loan, or if we pull your payment automatically from another financial institution, we’ll arrange your skip for the month you selected. Please have your skip request to us at least five (5) business days prior to your payment date. This gives us time to modify your ACH for the month you’ve requested your skip.
What if I use MessagePay for my loan?
Sno Falls MessagePay is a manual payment process completed monthly. Your loan payment will show as $0 for the Skipped month.
Questions?
There is nothing more important to us than our members and the opportunity to better serve you. For questions or concerns related to Skip Pay, please email us at loans@snofalls.com. You may also visit us in person at our Lending Center.
