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Would you skip a payment if knew it wouldn't hurt your credit rating?
But U.S. Bank, based in Minneapolis, is allowing borrowers affected by the Minnesota state government shutdown to skip a payment without any adverse effects like late fees, penalties or effect on their credit ratings.
Sonya Robison is facing a foreclosure suit in Colorado after the company handling her mortgage encouraged her to skip a payment, she says, to square up for mistakenly changing the locks on her home, too.
That's an opportunity to skip a payment.
While most cards charge late fees, which can be as high as $38, some cards like Citi Simplicity and Citi Double Cash actually encourage you to skip a payment by not charging and late fee at all.
Depending on when you made your last car payment, you may be able to even skip a payment when you take out your new loan.
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So he has taken to juggling bills, skipping a payment on one this month and another next month.
The city already skipped a payment due last Friday, and Mr. Orr said the city had found "certain issues related to the validity and/or enforceability" of the debt.
They made enough money to get by, bought a house, and never skipped a payment.
A borrower who skips a payment but pays regularly thereafter stays delinquent (and accumulates late fees) until the skipped payment is made good.
"Just because a credit card is advertising something like this, it isn't a license to skip making a payment," he said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com