Member Relief and Support Center
Are you experiencing financial hardship or having trouble making payments? We’re here to help.
Are you experiencing financial hardship or having trouble making payments? We’re here to help.
We offer several assistance programs for our consumer loans, which includes auto loans, personal loans, credit card and other lines of credit. Learn about these programs’ workout options and their eligibility below.
If you have questions or want to get started with these options, contact our Consumer Solutions support team at 800.358.8228 (ext. 7145) or email them at consumersolutions@duojiwuye.com.
Skip-A-Pay is an account feature that allows you to postpone your loan payment one month into the future to provide you with a little breathing room in case you are running a little short on cash or as other bills come due.
While Skip-A-Pay is designed to help alleviate the stress, it’s important to understand the terms and conditions of this account feature, including a $25 fee for each request charge as well as interest on your loan continuing to accrue during the month the payment was skipped.
A payment deferral allows you to defer (or pause) up to two monthly payments. Payment deferral is designed for those who face temporary financial hardship and helps keep loan obligations current. Payment deferral is not intended to address long-term financial hardship.
To be considered for a loan deferral, your loan must meet the following requirements:
We’ve made it easy for you to apply for loan payment deferral through our self-service portal.
A payment arrangement provides members with the opportunity to set up one or more short term payments within a month or two to bring a delinquent account back to good standing. All accounts are eligible.
The Temporary Payment Reduction Program is a loan modification intended to provide eligible members, who are experiencing a short to mid-term financial hardship, with affordable and sustainable monthly payments. The monthly payment will be reduced 50%, with a 2% interest rate. The reduced payment is for 12 months only and in conclusion, returns the contracted obligation.
A loan will be eligible for the Temporary Payment Reduction Program if all the following criteria are met:
The Permanent Payment Reduction Program is intended to provide affordable and sustainable monthly payments. An affordable and sustainable monthly payment is achieved by taking specified sequential steps to reduce the interest rate and extend the payment timeframe.
A loan will be eligible for the Permanent Payment Reduction Program if all the following criteria are met:
As a condition of approval for the Permanent Modification, you must provide evidence of completing debt counseling with Balance.
Skip-A-Pay Options
Skip-A-Pay is an account feature that allows you to postpone your loan payment one month into the future to provide you with a little breathing room in case you are running a little short on cash or as other bills come due.
While Skip-A-Pay is designed to help alleviate the stress, it’s important to understand the terms and conditions of this account feature, including a $25 fee for each request charge as well as interest on your loan continuing to accrue during the month the payment was skipped.
Payment Deferral Options
A payment deferral allows you to defer (or pause) up to two monthly payments. Payment deferral is designed for those who face temporary financial hardship and helps keep loan obligations current. Payment deferral is not intended to address long-term financial hardship.
To be considered for a loan deferral, your loan must meet the following requirements:
We’ve made it easy for you to apply for loan payment deferral through our self-service portal.
Payment Arrangement
A payment arrangement provides members with the opportunity to set up one or more short term payments within a month or two to bring a delinquent account back to good standing. All accounts are eligible.
Temp Payment Reduction
The Temporary Payment Reduction Program is a loan modification intended to provide eligible members, who are experiencing a short to mid-term financial hardship, with affordable and sustainable monthly payments. The monthly payment will be reduced 50%, with a 2% interest rate. The reduced payment is for 12 months only and in conclusion, returns the contracted obligation.
A loan will be eligible for the Temporary Payment Reduction Program if all the following criteria are met:
Permanent Loan Modification
The Permanent Payment Reduction Program is intended to provide affordable and sustainable monthly payments. An affordable and sustainable monthly payment is achieved by taking specified sequential steps to reduce the interest rate and extend the payment timeframe.
A loan will be eligible for the Permanent Payment Reduction Program if all the following criteria are met:
As a condition of approval for the Permanent Modification, you must provide evidence of completing debt counseling with Balance.
When you need to deal with matters of finance at Patelco, you are only a call away to set your visit so you can sit and talk with someone about your financial situation. They meet you where you are at and you are treated with respect.
We offer a comprehensive foreclosure prevention program to members experiencing financial hardship with the goal of keeping them in their home. Learn about these programs’ workout options and their eligibility below.
To get started with any of these options, contact our Loan Workout support team at 800.358.8228 (ext. 3999) or email them at loanworkout@duojiwuye.com.
A repayment plan is an arrangement where you agree to repay the loan arrearage in installments while still making regularly scheduled monthly payments. The repayment plan is designed to assist if you can resolve the loan delinquency over a period of time.
A mortgage loan will be eligible for a repayment plan if it meets the following requirements:
A payment deferral allows you to defer up to two monthly payments. Payment deferral is designed for those who face temporary financial hardship, and a payment deferral would help them keep their loan obligation current. Payment deferral is not intended to address long-term financial hardship.
The original interest rate and loan maturity date will remain unchanged. The unpaid interest will be treated separately and added to a 0% interest fee account and due as a final payment at the end of the loan term or at payoff.
This payment deferral program applies to closed and open-ended mortgage loans.
This program provides a temporary reduction of payments on a mortgage loan, followed by an arrangement to cure delinquency. The temporary payment reduction program is designed to assist those who are unemployed or who otherwise are not eligible for the loan modification program. The program is intended to provide those experiencing temporary hardship the time and flexibility to manage the financial challenges affecting their ability to meet the mortgage obligations.
The temporary payment reduction will allow you to make a monthly mortgage payment of 40% of your verified gross household income or $750.00, whichever is the greater amount, for a 6-month period. At the end of the payment reduction period past due amounts are not forgiven, but rather these amounts are addressed through a subsequent repayment plan or loan modification.
To be considered for the temporary payment reduction program, an account must meet the following requirements:
The Permanent Hardship Modification Program is a loan modification process intended to provide affordable and sustainable monthly payments. This is achieved by taking specified sequential steps to bring the total monthly housing payment down to a target between 31% and 38% of the gross monthly income.
A mortgage loan will be eligible for the Permanent Hardship Modification Program if all of the following criteria are met:
As a condition of approval for the Permanent Modification, you must provide evidence of completing debt counseling with Balance.
A short sale involves the creditor releasing the lien against the property in exchange for proceeds from the sale of the property of less than the amount owed. This program allows someone to transition out of their home without going through foreclosure.
A mortgage loan will be eligible for short sale if all the following requirements are met:
A deed-in-lieu of foreclosure (DIL), also referred to as a “voluntary conveyance,” occurs when a borrower voluntarily transfers title and possession of the property to a creditor to satisfy the mortgage loan debt and to avoid foreclosure.
Under Patelco Credit Union’s workout hierarchy, a DIL can be offered to members that are ineligible for all other foreclosure prevention alternatives.
A mortgage loan may be eligible for a deed-in-lieu of foreclosure if all the following requirements are met:
Repayment Plan
A repayment plan is an arrangement where you agree to repay the loan arrearage in installments while still making regularly scheduled monthly payments. The repayment plan is designed to assist if you can resolve the loan delinquency over a period of time.
A mortgage loan will be eligible for a repayment plan if it meets the following requirements:
Payment Deferral Options
A payment deferral allows you to defer up to two monthly payments. Payment deferral is designed for those who face temporary financial hardship, and a payment deferral would help them keep their loan obligation current. Payment deferral is not intended to address long-term financial hardship.
The original interest rate and loan maturity date will remain unchanged. The unpaid interest will be treated separately and added to a 0% interest fee account and due as a final payment at the end of the loan term or at payoff.
This payment deferral program applies to closed and open-ended mortgage loans.
Temp Payment Reduction
This program provides a temporary reduction of payments on a mortgage loan, followed by an arrangement to cure delinquency. The temporary payment reduction program is designed to assist those who are unemployed or who otherwise are not eligible for the loan modification program. The program is intended to provide those experiencing temporary hardship the time and flexibility to manage the financial challenges affecting their ability to meet the mortgage obligations.
The temporary payment reduction will allow you to make a monthly mortgage payment of 40% of your verified gross household income or $750.00, whichever is the greater amount, for a 6-month period. At the end of the payment reduction period past due amounts are not forgiven, but rather these amounts are addressed through a subsequent repayment plan or loan modification.
To be considered for the temporary payment reduction program, an account must meet the following requirements:
Permanent Loan Modification
The Permanent Hardship Modification Program is a loan modification process intended to provide affordable and sustainable monthly payments. This is achieved by taking specified sequential steps to bring the total monthly housing payment down to a target between 31% and 38% of the gross monthly income.
A mortgage loan will be eligible for the Permanent Hardship Modification Program if all of the following criteria are met:
As a condition of approval for the Permanent Modification, you must provide evidence of completing debt counseling with Balance.
Other Relief Options
A short sale involves the creditor releasing the lien against the property in exchange for proceeds from the sale of the property of less than the amount owed. This program allows someone to transition out of their home without going through foreclosure.
A mortgage loan will be eligible for short sale if all the following requirements are met:
A deed-in-lieu of foreclosure (DIL), also referred to as a “voluntary conveyance,” occurs when a borrower voluntarily transfers title and possession of the property to a creditor to satisfy the mortgage loan debt and to avoid foreclosure.
Under Patelco Credit Union’s workout hierarchy, a DIL can be offered to members that are ineligible for all other foreclosure prevention alternatives.
A mortgage loan may be eligible for a deed-in-lieu of foreclosure if all the following requirements are met:
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No, we only place a note on the credit report. Once deferment is done, the note is removed from the credit report.
Two throughout the life on the loan for mortgage loans and once every 12 months for consumer loans (auto, personal and credit card).
The next due date following the skipped due date.
The modified payment will start 30 to 60 days from the completion of the modification.
We will continue to report the delinquency status of your loan to credit reporting agencies in accordance with applicable law.
Once your loan is modified, you will be considered current on your loan and your credit score may improve so long as you make your payments on time.
A loan modification changes some of the terms of your mortgage, such as monthly payment, interest rate, and maturity date, which may make your payment more affordable.
You will repay the new interest-bearing mortgage balance in equal monthly payments over the modified term.
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