Holiday shopping? Unexpected bills? You’ve probably experienced a time of year when money was tight.

True Sky Federal Credit Union can help you get the extra cash you need by letting you postpone a payment without hurting your credit!* There will be a $40 processing fee charged at the time of the request.

Will my loan qualify?

Here are a few of the requirements to review before submitting a request online:

  • Your account must be in good standing, and your loan must have had at least six payments made since the origination of your loan.
  • Two Skip-a-Pays are allowed in a twelve-month period.
  • Skip-a-Pays are not available for credit cards, mortgages (including home equity line of credit), Quickloans, or any delinquent loan.
  • You must have $40 in your checking or savings account to pay for this service.
  • If you have a co-borrower, both your signature and theirs are required.

You can submit a request by filling out the form below or stopping by any True Sky Federal Credit Union Branch location.

Skip A Payment / Loan Payment Extension Agreement

By signing this form, you authorize True Sky Federal Credit Union to extend your final loan payment(s) by one month per Skip A Payment/Loan Payment Extension Agreement processed and to debit your account for the applicable fee amount (if not paid by check). You further agree that you have read, understand, and agree to the Terms and Conditions set forth below.


You may be eligible to skip your monthly loan payment, provided that all your accounts are in good standing and subject to the

• All requests to skip a payment will be subject to underwriting review and subject to final approval by TSCU.

• To be in good standing all your loans must be current and cannot be delinquent for more than 29 days in the last 6 months.

• Interest will continue to accrue on your loan and the skipped payment will cause your loan to be extended beyond the
original maturity, which may change the total amount and schedule or repayment and increase the total finance charges. All
other terms and conditions of the loan will remain unchanged.

• There is a $40.00 fee for each loan payment that you choose to skip. The fee is due and payable at the time of the request.

• You must complete the Skip A Payment/Loan Payment Extension Agreement for the loans you want to skip.

• If your loan is insured with Payment Protection, your monthly premium for coverage will still be added to the loan on the
skipped month.

• Skip A Payment/Loan Extensions are not covered under the purchase of GAP insurance and will be deducted from the
GAP settlement.

• You may use this program, subject to approval, two times each rolling 12-month period, but not for consecutive months.

• If approved, and your loan is paid automatically or by payroll deduction, the funds for the payment will not be transferred
to the loan and will remain in either your checking or savings account.

• All parties to the original loan agreement, including any co-borrowers, co-signers, and/or guarantors must sign the Skip A
Payment/Loan Payment Extension Agreement.

• You will be required to resume your payments the month following the skipped payment.

• Loans that are not eligible and do not qualify for the Skip A Payment/Loan Payment Extension Agreement include:

– Loans with less that six-month payment history

– Loans with an APR (annual percentage rate) that when the application fee is added would exceed the maximum
allowable APR (generally 21%)

– Loans that are secured by real property or a dwelling, certificate secured, have a balloon feature, or are open-end loans
like home equity lines, credit cards or Quickloans.

– Loans not in good standing including restructured debts, loans in bankruptcy, and delinquent loans.

– Excessive skip payments may cancel coverage.