How much can a credit card hardship program lower your monthly payment?

Comments

1. Aria: I've heard credit card companies advertise 'hardship plans' but never knew what they actually did
2. Onyx Drift: the idea sounds too good to be true, how much wiggle room do these programs really give?
3. Meyerivy: it depends on how deeply in debt you are what's your real balance anyway?
4. Lucasrossi: seems a lot of people are touting these as some kind of magic solution but I remember when the housing market was crashing and how easily lenders would let you put payments on hold
5. Elin: my wife was offered 30% reduction but ended up paying more interest in the long run
6. Cipher Lynx: it's funny how some people think these programs are a free pass, when in reality you're just paying over time
7. Lena: some relief comes with a price tag attached
8. Glitch Nomad: most people I know don't even consider negotiating with their card issuers, do they ever actually do that?

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