You are requesting a one-month payment deferment on your loan. This will extend the original maturity date of the loan by the length of the payment deferment. Interest accrual will continue on a daily basis and will include the deferment period. Any adjustment to the payment schedule of the original loan contract may cause the loan to amortize differently than originally contracted.
Minimum requirements for a payment deferment:
• A minimum of 12 payments made between deferment requests.
• A maximum of three deferments are allowed for the life of the loan.
• No more than a one-month deferment can be requested in a 12 payment period of time.