Skip A Payment Program
What is Skip-A-Payment?
Now you have the option to skip a loan payment without impacting your credit rating. Are you planning on going on vacation next month and want to skip your car payment? Now you can because with our Skip-A-Payment Program, Telco is here to meet your financial needs.
The Skip-A-Payment Program gives you the option to defer a monthly payment on an eligible Telco Loan to the end of the loan. We advance your payment due date and your maturity date (for example on a 48-month loan, if one payment is skipped, you make 48 payments over 49 months). It is that simple.
Here's How it Works
To take advantage of our Skip-A-Payment Program, download and print the Skip-A-Payment Request Form (pdf), fill it out completely and return it to Telco with your $35 fee (or choose to have the fee automatically withdrawn from your Telco Account).
This program does not apply to loans during the first twelve (12) months of the loan agreement and you may only exercise one (1) Skip-A-Payment per calendar year/per loan with a maximum of three (3) skipped payments per loan term.
The following loan types are eligible for our Skip-A-Payment Program: New and Used Auto, New and Used Motorcycle, Recreational Vehicles, Personal Loans, Indirect Loans and Certificate and/or Share secured loans.
The Skip-A-Payment Program is not offered on Visa, Home Equity, Mortgages or Business Loans.