Skip a Payment Tips, Info & FAQs
Delay a loan payment in order to have extra cash.
Does your holiday budget have you in a tight spot? Unable to make your loan payment or need extra cash to tide you over this holiday season? If you are eligible, you may request to skip your payment and we’ll give you some extra time.
Four Tips for Paying Off Debt Quickly
Fed up with debt? Between credit cards, car payments, and other loans, debt can feel crushing. If you want to approach it more positively—and pay it off more quickly—here are four essential tips:
1. Prioritize by rate
If possible, you should try to pay off your debt with the highest interest rate first. This will have the greatest financial impact on you over time, and interest rates vary greatly from loan to loan. For instance, credit cards often have particularly high rates, while student loans can be pretty affordable.
2. Always make your minimum payments
On the flip side, paying off the highest debt first should never be done at the expense of paying your other minimum payments. If you don’t cover these, you’ll get penalties—and maybe even higher rates—on your other debts.
3. Establish small rewards
Create a positive feedback loop in your head by rewarding yourself when you do pay off a debt. Ideally, pick something inexpensive but fun, such as going out for ice cream or to the movies.
4. Review existing expenses
Do your best to reduce your existing expenses, comforting yourself that this is just a temporary move until your debts are paid. Try to especially decrease spending in more non-essential categories, such as eating out or paying for entertainment subscriptions.
How much does it cost to skip a payment?
The fee is a low $25 for each loan skipped.
Can I skip a payment on all of my loans at once?
As long as the loans are eligible for Skip a Payment, you may skip them all. Keep in mind that all of your due dates will be advanced and interest will continue to accrue on your loans.
Can I skip a payment on any of my loans?
There are some loan types where you will NOT be able to skip a payment. Here is a list of those loan types:
- Real Estate Secured Loans
- FHA Title 1 Loans
- Certain specially underwritten Auto Loans
- Share or Share Certificate Secured Loans
- Credit Cards
- Single Payment Loans
- Balloon Payment Loans
- Lines of Credit
- Commercial and Business Secured Loans
- Restructured Loans
- Member Business Loans
- Loans paid by an insurance claim or through a debt management program
- Any collateralized loan with an active CPI policy
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Skip a Payment Why United Texas
- Available in June/July and November/December
- Easy application process
- Account must be in good standing
- Low, $25 fee per skipped payment
- Extends loan by the number of skipped payments
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Skip a Payment How it Works
We offer four easy ways to make a request:
Click the “Apply Now” button, and you’ll be able to securely sign and return the form in one step.
Complete and print the form and fax it to (210) 561-4519.
Mail the form to United Texas Credit Union, 5500 UTSA Boulevard, San Antonio, TX 78249.
Drop the form off at any of our locations during business hours.
Related Products & Services
All accounts must be in good standing with a savings account balance of $5 or more. Offer applies to current loans in good standing. At least six monthly payments must have been made on a NEW eligible loan(s). You may Skip a Payment on eligible loans during our promotional offer periods. Loan extensions with payment due date changes greater than 30 days are considered a skipped payment. Interest will continue to accrue on your loans and the loan term will be extended by the number of payments that are skipped. Requests received after the deadline will incur a $35 fee per loan.