It’s generally a bad idea to skip mortgage and other loan payments. Late payments damage your credit score and add late fees to your monthly total.

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. (Keep in mind that interest will still accrue, though.)

On July 1, the state government shut down most functions after the governor, a Democrat, and the Republican-controlled Legislature, failed to agree on a two-year budget. The governor wants to raise taxes; the Legislature disagrees. Roughly 22,000 state workers were laid off, and many businesses are affected, too.

According to the bank, existing customers as of June 30 whose accounts are in good standing can choose what month’s payment they’d like to skip and notify the bank by calling 800-890-2233.

Mortgage loans are eligible, as are installment loans like those for cars and boats, as well as small business and consumer lines of credit.

Borrowers don’t have to be state employees to qualify, said a bank spokesman, Tom Joyce. Small businesses affected by the shutdown can also qualify.

Would you skip a payment if knew it wouldn’t hurt your credit rating?

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