If you need help with debt, some credit card companies are offering credit card hardship programs for struggling borrowers. Below is information on how to get assistance and who to contact to get debt help and relief from these programs.

How are People Eligible for Debt Assistant or Hardship Programs?

Hardship programs are available to any debtor that can demonstrate that they are experiencing financial problems. Many people do not realize that you don’t have to be late on your payments to get help.In fact,It is better to ask for assistance before you are delinquent.

When Do I ask for Help?

While you do want to contact them early, you do want to balance that with the fact that you should not sound the alarm unless a missed payment definitely looms in your near future.

The reason being that a call made to the credit card company early before the financial problem is legit might prompt a closure of your account or a lowered limit. It is always advised to wait until you know that a problem is imminent.

How Do I Negotiate a Credit Card Hardship Program?

Try to get your interest rate lowered, as this usually has a major impact and many card companies may offer this option. Be sure to emphasize your previously strong payment history, credit score, and past relationship.

It is usually not best to tell them you lost your job since in effect you are telling them that you have no capacity to pay your bills. Instead you need to focus your negotiations on how much you can afford to pay each month.
Do Credit Card Hardship Letters Work?

A letter more than likely will not be enough to resolve any credit card debt problems you may have, but they are good tools to start the negotiation process.The best tool is evidence of hardship, such as a job loss letter from your former employer, doctor letters, etc.

Also keep in mind there be a negative impact to your credit score as if the credit card company modifies the terms of your account and if they do go ahead and report to the credit bureaus that you're paying less than the original amount on your debt, or if you are paying according to an altered set of terms, your score could be lowered.

However, that lowering of your credit score is always better than the hit to your score if you do not pay at all.

If you need help with debt, why not take advantage of these types of programs?

Author's Bio: 

Stop wasting money by making minimum payments. See how our revolutionary debt negotiation program may get you out of debt fast and safe!