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What Does a Credit Card Hardship Program Entail?

What Does a Credit Card Hardship Program Entail?

Finance
While the prospect of letting your credit card issuers know you’re struggling with money might seem like a situation you’d like to avoid at all costs, there are certain instances in which it’s more beneficial to be honest than to keep your troubles hidden — and risk falling behind on payments altogether. Believe it or not, sometimes lenders are pretty accommodating when borrowers are having problems. But you will have to have a frank conversation with your creditors to qualify for any sort of hardship program. Otherwise, the bills will keep coming, the interest will keep accumulating and your credit score will keep taking hits. Credit Card Hardship Programs: What to Expect While creditors don’t unanimously offer hardship provisions to cardholders, many do. And, if you’ve never hea...