Loan Extension Request

Borrower Name*

First Last

Co-borrower/Signer Name (if applicable)

First Last

Member Number (if known)

Loan Suffix Number (if known)

Email*

Phone*

Please skip the next payment on my:

Unsecured Loan
Credit Card
New/Used Auto Loan
Mortgage or Equity Loan
Other Loan

Please click this link to redirect to the Mortgage or Equity Loan Extension Request form.

I have an automatic transfer from my Vanderbilt Credit Union savings and/or checking account::

Yes
No

I have an automatic deduction from payroll:

Yes
No

I have a recurring transfer from an outside financial institution:

Yes
No

If you answered “yes” the transfer of funds to your Vanderbilt Credit Union savings account will continue. However, your next transfer from savings to your loan payment transfer will not occur. The transferred funds will remain in your savings account at the Vanderbilt Credit Union. You may withdraw these funds at any time at no cost. If you want the transfer to funds to stop, you must initiate a separate request to stop this transfer with the originator, (e.g. VUHR, VUMC HR or your financial institution). The transfer from savings to your loan will resume per the loan extension agreement VCU provides to you.

The original term of the loan will be extended by another month. For example, a loan with an original term of 24 months will be extended to 25 months. In addition, Finance Charges will continue to accrue on daily basis at the annual percentage rate set forth in my loan agreement, both during and after the deferral period. As a result, the skip a payment option will result in higher total finance charges being paid to the Credit Union. If applicable, monthly Credit Life / and / Disability payments will still be added to the loan on the skipped month. In all other respects the provisions of the original loan agreement remain in full force and effect.

It is the member’s responsibility to ensure automatic payments resume after this deferment period. Failure to do so may affect the borrower’s credit rating and increase the interest paid on the loan. ~~There is a $50.00 fee for the loan payment extension service. The $50.00 fee will be payable at the time the payment extension is granted.~~ VCU is waiving the fee until further notice.

By checking this box, you agree to the terms stated above.*

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Loan Payment Extension

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