 TITLE: What Is a Credit Card Hardship Program? CONTENT: What to Consider Before Agreeing to a Financial Hardship Plan\n-------------------------------------------------------------\nBefore accepting a financial hardship plan, ask:\n*   **What documentation is needed?** You may be asked for pay stubs, divorce papers, medical bills, bank statements or other proof of financial difficulties.\n*   **When does the plan end?** Also, what payments are you responsible for when the plan ends?\n*   **What are the ongoing requirements?** Are payments automatically debited from your bank account? Do you have to work with a credit counselor? Will missing a payment expel you from the program? If you miss a payment date with American Express's hardship program, for instance, you may be removed from the program and your account may go to collections.\n*   **Can you afford it?** Make sure any minimum monthly payment adjustments are enough that they fit into your budget.\n*   **How will your credit card be affected?** Will the issuer freeze your card so you can't use it, reduce your credit limit or close the account?\n*   **How will your account status be reported to credit reporting agencies during the plan?** Some card issuers tell credit bureaus you're participating in a hardship plan. Even if this doesn't directly affect your credit score, lenders and others who check your credit report can see it, which has the potential to affect lending decisions.\nCredit card companies generally work with hardship customers on a case-by-case basis. If their first offer doesn't seem likely to help you, ask about alternatives.\nKeep records of phone conversations, emails or online chats. Get all the details of the plan in writing before signing or agreeing to anything. END