Skip a Loan Payment

No worries. We've all been there.

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Let's give your budget a bit of breathing room

Life is unpredictable. Sometimes, expenses head north. Or income goes south. Or something else crops up. One way to get your finances back on track is by skipping a monthly CommonWealth One loan payment.

Auto, motorcycle and personal loans eligible

Just give us five business days' notice

Easy online request form

No harm to your credit score

We won't make you jump through a million hoops

If you would like to Skip A Loan Payment, just fill out our secure electronic form - the link is below - and send us your request at least five business days before the next payment is due. Here are all the guidelines: 

Eligible Loans

Skip A Payment Policies

  • Your request must be received five business days prior to the due date you want to skip.
  • Up to one payment skip is allowed every 6 months.
  • Payment skips on automobile loans with GAP coverage may affect the amount covered in the event of a claim. Skipped payment(s) may be deducted from any GAP benefit.
  • Loans of less than 6 months are not eligible for the Skip-A-Payment program.
  • Skip payments are not guaranteed and are subject to approval.

Easy application

We've got the financing to get you rolling

Save a bundle in interest charges with our driver-friendly auto loan rates.

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What's Your Journey?

This credit union has been a big part of my family as we've faced different life transitions, like purchasing cars and managing our finances. I appreciate the engaging programs for my children. The auto loan product has been especially helpful for me, providing a simplified car shopping experience.

Yvette
Member Since 2009

CommonWealth One Federal Credit Union is a full-service financial institution with branches in Northern Virginia, Maryland and Washington D.C.

Disclosures
Your account must be in good standing and you must have made six consecutive monthly loan payments on time. Your request must be received five business days prior to the due date you want to skip. Automobile loans with GAP coverage are limited to 2 skip payments during the term of the loan. Skip payment offers can only be used twice in a 12-month period per loan. Skip payments are not allowed until the member has made 6 regularly scheduled payments. A loan must have had 6 full months since the last skipped payment before it will be eligible for another skip payment. Any skip payment request that does not include a current phone number and/or email may not be processed. An account with a “bad address” will not be eligible for a skip payment until the address is updated. Allow 5 business days to process a skip payment request. Normal interest charges will continue to accrue on the loan. The authorization of a skip payment will extend the maturity date of the loan. Skip payments are not guaranteed and are subject to approval. The authorization of a skip payment will extend the maturity date of the loan. Interest will continue to accrue. A Credit Union representative will notify you by phone or email if your loan is not eligible for a skip payment. If we are unable to reach you by phone or email, a letter will be sent to notify you of the decision.