Skip Payment Program
If you need financial relief, you can choose to skip eligible loan payments.
A simple step to solve a cash-flow crunch
There's an old line about sometimes there being too much month left at the end of your money. Anyone can find themselves in that situation. Arbor Financial offers some breathing room to Michigan families with a Skip Payment program that allows borrowers to miss a loan payment here and there. With a lighter load, you can catch up on other bills or even get ahead of the curve.
Here's some essential information about Arbor Financial's Skip Loan program:
- Skip payments in up to two months per calendar year
- Limit (8) skip payments may be performed during the life of the loan
- Eligible loans include auto, RV, boat or personal loans
- A request must be received at least seven days before the payment due date
- Three consecutive payments must be made on any new loan before a payment can be skipped
- A $35 per loan, per month skipped processing fee will be applied
- Offer does not apply to first mortgages, certificate-secured loans, credit cards, fixed-rate home equity loans, lines of credit, business loans, Fresh Start auto loans or any delinquent loans
Need a Credit Checkup?
Perhaps it's time for a thorough review of your financial situation. Members are eligible for an annual Credit Checkup where we can review your credit report and possibly provide options to help lower your monthly payments and save you money. Our credit specialists love saving our members money.