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“Skip a payment this month, on us.” What the skipped month adds.
“Skip a payment this month, on us.” A balance of $8,000 at 16.99%. The lender offers to skip December's payment. What does the skipped month add to what you owe?
The answer
$112. The interest does not skip. It is added to the balance or to the end of the loan, and a skip-a-pay fee often comes with it.
Why
A skipped payment is a month of interest with nothing paid against it. $3.72 a day, every day of the skipped month, on the full balance. Read the offer letter: A skip-a-pay fee of $25 to $50 is common. Add it to $112 and the free month has a price, plus a loan that ends a month later.
One move
If you can, pay the interest anyway. Skip it: $112 added to the loan, $8,112 balance after. Pay the interest only: $112 paid this month, $8,000 balance after. Paying $112 keeps the balance exactly where it was. Interest methods and fees vary by lender. The offer letter has the terms; ask before you accept.
Skip-a-pay offers cluster around the holidays and tax season. They can help in a tight month. They are not free.
Written and reviewed by Riverbend Crossroads Digital LLC, Friday, October 2, 2026. Figures from the Show Real Cost engine, computed exactly and shown to the cent. Educational, not advice; your lender's disclosures are the authoritative figures. How we calculate · Corrections.