Skip-a-Pay Season is Here!
The holidays means it’s Skip-a-Pay season! Skip-a-Pay is one of the best perks of being a Green Country member. Here are some frequently asked questions we get about Skip-a-Pay and how it works.
What is Skip-a-Pay?
Skip-a-Pay is a consumer loan deferral. A loan deferral allows you to temporarily halt making payments on the principal and interest of your loan. In the case of Green Country’s Skip-a-Pay, this period is one month – either during the holidays November or December, or over the summer July or August.
How do I qualify?
- Loans have to be current (can’t be behind on your payments)
- You must have made at least two payments to your loan
- All Green Country accounts need to be in good standing (no overdrawn accounts)
- You must have full-coverage insurance
Does it affect my credit score?
No, a loan deferral will not affect your credit score, either good or bad.
What if I have auto-debit making my payments?
As long as we receive your Skip-a-Pay request at least five days prior to your due date, we’ll make sure the payment is not taken out automatically from your Green Country account. If you use bill pay or auto payments from another institution, you will need to make that adjustment.
What happens to the payment I skipped? Does it just go away?
No, the payment that you skip (principal +interest) goes to the end of your loan. So if your payoff date is July 2025, it will now be August 2025.
Can I skip any Green Country loan payment?
No, Skip-a-Pay does not apply to business, real estate, line of credit, credit card, or overdraft loans. But you can use it for auto, motorcycle, boat, RV, camper, trailer, tractor, and other personal consumer loans.
Does it cost anything to defer?
Yes, there is a $50 processing fee for each loan you choose to defer.
Can I skip more than one loan?
Yes, if you have multiple consumer loans with Green Country and they meet all the requirements stated above, you can skip payments on multiple loans.
How do I sign up?
Fill out an application in any of our three locations, or fill it out online for the fastest response time.
Can I only do this over the summer?
We do have optimal times to skip – July and August and then again over the holidays, November and December. But if you’re having a financial hardship, you can always call our loan department and ask for a deferral any time of the year. However, only two deferments are allowed in a calendar year and they cannot occur back-to-back.
I skipped a payment over the winter, can I skip again?
Possibly. Only two payment deferments are allowed in a calendar year and they cannot be back-to-back. So please chat with the consumer loan ladies to be sure you qualify. Call us at (918) 246-7888.