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Skip-a-Pay

Take the pressure off this gift-giving season by skipping your next loan payment!

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How It Works

You can request to skip your loan payment* for auto or personal loans. To request to skip-a-pay., submit the form - each deferral is subject to approval and a $25 fee.*

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You are here. Complete and submit the form below before payment is due.
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With approval, you can skip your Dec. or Jan. payment. (a $25 fee will apply).
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Enjoy some breathing room this holiday with your family and friends.

Authorization to Skip Loan Payment

Frequently Asked Questions

What is Skip-a-Pay, and how does it work?

Skip-a-Pay allows you to skip up to two monthly loan payments per calendar year, giving you some financial breathing room. For example, if your payment is due on 12/8, you can apply to skip it by 12/7. Complete the form on our website, and your request will be processed within two business days.
Which loans are eligible for Skip-a-Pay? This offer is exclusive to Auto Loans, RV Loans, Motorcycle Loans, Debt Elimination loans, and Signature Loans.  You can skip payments on multiple eligible loans, up to the two-payment limit per year. Be sure to check loan eligibility before applying.
How often can I use Skip-a-Pay?

You can skip up to two payments per calendar year, either on the same loan or across multiple eligible loans. This flexibility can be useful when you need extra financial relief.
Are there any fees for using Skip-a-Pay?

Yes, there is a $25 fee for each Skip-a-Pay request, which will be added to your loan balance. This fee helps cover the administrative costs of processing the skipped payment.
How will skipping a payment affect my loan? Skipping a payment won’t affect your credit score, but interest will continue to accrue, and the loan term will be extended. The $25 fee will also be added to your loan. Be sure to review how this impacts your overall loan balance and repayment.
Will my interest increase during Skip-a-Pay?

Yes, interest will continue to accrue during the skipped month, which may increase the total interest you pay over the life of the loan.
How do I apply for Skip-a-Pay? You can apply by completing the form on our website. If you have any questions about the program, call us at 303.471.7625. Your request will be processed within two business days.
What if I have an automatic (ACH) payment?

If your payment transfers from a Red Rocks Credit Union account, your transfer will be suspended for the skipped month. If your payment comes from another financial institution and we originated the ACH, your transfer will be suspended for the skipped month. If your payment comes from another financial institution and we did not originate the ACH, contact your financial institution to suspend your payment for the skipped month.
What if I make my payment through Red Rocks Credit Union Digital Banking?

You will need to log in to digital banking to delete this transfer and delete the recurring series. You will need to set a new transfer series to continue your payment on recurring transfers after the skipped month.

TERMS AND CONDITIONS: 

*To qualify for this offer, your Red Rocks Credit Union membership must be in good standing. This offer is exclusive to Auto Loans, RV Loans, Motorcycle Loans, Debt Elimination loans, and Signature Loans. This offer is subject to change and excludes any loan in which the first payment has not yet been made. If you choose to skip your December or January loan payment, a $25 deferral fee will apply. If you skip your December or January loan payment, interest will continue to accrue on your Red Rocks loan and the term may be extended. If applicable, skipping your December or January auto loan payment may affect a guaranteed asset protection payout (GAP). Red Rocks Credit Union is only responsible for adjusting the member’s loan account due date. Member is responsible for rescheduling the dates on all ACH and other automatic bill payments that they have set for each loan they want to skip. Members can skip their December or January payment before it is due. For example, if your payment is due on 12/8/24, you can call to skip until 12/7/24. Other restrictions may apply. Loans with collateral protection insurance do not qualify for the Skip-A-Pay promotion. Federally Insured by NCUA.