Coronavirus Payment Extension Request

Concerned about making your payments?

If you’re worried that you can’t make your loan or credit card payment, we can help with an extension.

Coronavirus Extension Requirements

In order to qualify for a payment extension, you must meet ALL of the following requirements:

You must have made at least one payment to the account.
The account cannot be delinquent.
You must not have other means available to make the payment.
After three (3) months of payment extensions, credit cards and personal lines of credit will no longer be eligible for extensions. If you’re still unable to make a payment after three (3) months, please contact our Collections department at 804-323-6000 ext. 1705.
You must be able to provide documentation of financial hardship from the Coronavirus Pandemic, dated within the last thirty days.
You must be able to provide bank statements from the last three (3) months.
You must be able to provide completed budget worksheets from the last three (3) months.
Extensions are not allowed for mortgage loans using this form.
Request(s) must be received at least five (5) business days prior to the next transfer date to allow time for adjustment.
If you’ve already received an extension on an account, you must wait until you are within ten (10) days of your next due date before requesting a subsequent extension on the same account.

Do you meet ALL of the above criteria and have a financial hardship due to the Coronavirus Pandemic?*

Yes Not at this time

Has the Coronavirus Pandemic impacted your ability to make your payments?*

Yes Not at this time

How has your income been impacted by the Coronavirus Pandemic?*

I am still employed but my income has been significantly reduced.

I lost my job and I am now unemployed, laid-off or furloughed.

My co-borrower has lost their job or had a significant reduction in income.

I have been impacted by a Coronavirus-related illness or death in my immediate family.

Name of employer(s)*

How long do you expect this change in income or ability to pay will continue?*

Important disclosures—please read before submitting

Please read carefully and check the boxes below before clicking Next to indicate that you understand and agree to the terms of a Hardship Payment Extension.

By submitting this application, I attest that I have read and understand VACU’s Extension Requirements. I understand I will receive a decision in writing that will advise of what payments were extended and when my next payment is due. I further acknowledge and understand that even if my due date is extended to a future date, finance charges continue to accrue daily for each day of the extended period and thereafter. I understand that the only change in terms for an extension is that the next date my payment is due will be extended. I further acknowledge and understand that requesting an extension may negatively impact decisions on new credit. All other terms and conditions defined in my agreement will remain in force.

The term of the extension is 2 monthly payments for first-time extension requests and 1 monthly payment for subsequent requests.

VACU reserves the right to refuse to grant an extension in VACU's sole and absolute discretion.

Auto, Personal Loans, and Personal Lines of Credit - All other terms and conditions defined in my Loan Note and/or LoanLiner Credit Agreement Plan are and will remain in force. If applicable, I understand that any additional payments (those beyond the original maturity date) resulting from the loan extension may not be covered by Guaranteed Asset Protection (GAP) and that it is my responsibility to verify the impact of the loan extension on my GAP coverage. I acknowledge that the extension of the loan may affect the claim amount covered by GAP.

Credit Card - All other terms and conditions defined in my Credit Card Agreement are and will remain in force.

If you do not understand any part of this Loan Extension Request, do not submit this document.

I understand that by checking Yes, I am attesting to a financial hardship caused by the Coronavirus Pandemic.*

Yes *

I understand that by checking Yes, I attest that I have read and understand VACU’s Extension Requirements and Disclosures.*

Yes *

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