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Sometimes you can just use a little extra cash.

Whether to treat yourself to a well-deserved weekend away or to pay unexpected expenses.

  • Skip a loan payment up to 2 times per rolling 12-month period (not to exceed 6 skips per loan).1
  • Skipping a payment won’t hurt your credit report!
  • Secured consumer loans are eligible.
  • $25 processing fee per loan, per request.

Skip-a-Payment is here to help when you need a break, for yourself or from bills!

Q:

Can I add the $25 Skip-a-Payment fee to the balance of my loan?

A:

No, the $25 must be collected at the time you apply to Skip-a-Payment.

Q:

When must I apply to skip next month’s payment?

A:

You must apply at least 10 days before the payment you want to skip is due.

Q:

Can I skip two months in a row?

A:

Though you can skip two months per rolling 12-month period, you cannot skip two consecutive months.

Q:

When can I skip my first payment?

A:

You must have had the loan open and not had a late payment (longer than 30 days late) for at least 6 months before it becomes eligible for the Skip-a-Payment program.

Q:

What if I have set up an automatic payment?

A:

Automatic payment is a great way to pay! However, with Skip-a-Payment, it’s important to make preparations if you have an automatic payment set up:

  • If the transfer is an internal transfer from another Interra account, your loan payment due date will be advanced automatically.
  • If you make your loan payment automatically from another institution, you will need to make arraignments to skip the payment once you’re approved by Interra to do so.
  • If you have authorized Interra to initiate withdrawals from another financial institution, you then automatically authorize Interra to suspend the transfer for one month by applying for Skip-a-Payment.
Q:

Will my loan still accrue interest when I skip a payment?

A:

Yes, interest will continue to accrue regardless of the skipped payment. For more information, read the terms and conditions

Save For a Rainy Day

1 All Skip-a-Payment requests are subject to approval. Interest will continue to accrue. Skip-a-Payment Terms & Conditions