What does applying for hardship mean?
What Does Hardship Mean? A financial hardship occurs when a person cannot make payments toward their debt. Financial hardship letters are the best way to explain why your account is behind. Lenders may use them to determine whether or not to offer relief through reduced, deferred, or suspended payments.
How do you qualify for debt relief?
To qualify for National Debt Relief's debt settlement program, consumers must have at least $7,500 in unsecured debt for a qualified debt type. Qualified types of debt include major credit cards, department store cards, personal loans, medical bills, credit unions, some secured debts and some private student loans.
What are examples of financial hardship?
No, you really can't get rid of credit card debt without paying. Filing bankruptcy for credit card debt will indeed lets you escape credit card debt. But if you're asking, How can I get rid of credit card debt without paying anything to anybody? the answer is still: You can't!