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Union Savings and Loan Association COVID-19 Pandemic LOAN PAYMENT DEFERRAL FORM In order to request loan payment relief, please complete the below information and return this form to one of our branches
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How to fill out loan payment deferral request

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How to fill out loan payment deferral request

01
To fill out a loan payment deferral request, follow these steps:
02
Contact your lender and inquire about their loan payment deferral options.
03
Fill out the loan payment deferral request form provided by your lender. This form usually requires you to provide personal information such as your name, contact details, loan account number, and the reason for requesting deferral.
04
Provide any supporting documents if required by your lender. This may include proof of financial hardship or any other relevant documentation.
05
Submit the completed loan payment deferral request form along with the supporting documents to your lender. Ensure that you keep a copy of the submitted documents for your reference.
06
Wait for the lender to review your request. They may contact you for any additional information or clarification if needed.
07
Once your request is approved, the lender will provide you with the details of the loan payment deferral. This may include the duration of the deferral, any interest or fees that may be applicable, and the revised payment schedule.
08
Make sure to adhere to the terms and conditions provided by the lender during the deferral period. Keep track of any changes in your payment schedule and ensure timely payments once the deferral period ends.

Who needs loan payment deferral request?

01
Loan payment deferral request is typically needed by individuals or businesses who are facing temporary financial difficulties and are unable to make their loan payments as scheduled.
02
Common situations where a loan payment deferral request may be required include:
03
- Job loss or reduction in income
04
- Illness or medical emergencies
05
- Natural disasters or unexpected events
06
- Temporary cash flow issues
07
It is important to note that eligibility for loan payment deferral requests may vary from lender to lender and is subject to their policies and criteria.
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A loan payment deferral request is a formal appeal made by a borrower to postpone or delay their scheduled loan payments for a specified period due to financial difficulties.
Borrowers who are experiencing financial hardship and wish to temporarily pause their loan payments may be required to file a loan payment deferral request.
To fill out a loan payment deferral request, a borrower typically needs to complete a form provided by the lender, providing personal information, loan details, a description of financial hardship, and any required documentation.
The purpose of a loan payment deferral request is to allow borrowers to seek temporary relief from their loan obligations during times of financial difficulty, thereby preventing default and supporting financial stability.
A loan payment deferral request must typically include personal identification details, loan account number, reasons for the request, financial situation, and supporting documentation such as income statements or bills.
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