Chase Hardship Program: How to Lower Payments

Chase Credit Card Hardship Programs: Payment Assistance and Debt Relief Options

According to WalletHub, the five largest credit card issuers are Chase, American Express, Citi, Capital One, and Bank of America. Together, they control more than half of the U.S. credit card market. Chase has remained the nation's largest credit card issuer since 2014.

As of 2023, JPMorgan Chase customers carried more than $200 billion in outstanding credit card debt. American Express ranked second with approximately $140 billion. Citi followed closely behind.

Does Chase Offer a Credit Card Hardship Program?

Yes. Chase offers hardship assistance to eligible customers facing financial challenges. If you're struggling to make your credit card payments, contact Chase as soon as possible.

Explain your financial hardship clearly. Common qualifying situations include:

Job loss
Reduced income
Medical emergencies
Divorce
Other unexpected financial setbacks

Depending on your circumstances, Chase may offer:

Lower interest rates
Reduced monthly payments
Temporary payment relief
Other hardship accommodations

Most hardship programs last 6 to 12 months. Use that time wisely. Continue making your payments and pay extra whenever possible. Doing so can reduce your balance faster and lower the total interest you pay.

What If You Don't Qualify for Chase's Hardship Program?

If Chase cannot provide enough payment relief, a nonprofit credit counseling agency may help.

A Debt Management Plan (DMP) can reduce your interest rate and lower your monthly payment. Many Chase cardholders receive interest rates between 0% and 10% through a nonprofit credit counseling agency.

Your Chase credit card will usually be closed after it enters the program. Although this may seem like a drawback, many people find it easier to eliminate debt when they can no longer use the card.

DebtWave Has Helped Chase Customers Become Debt Free Since 2002

For more than 20 years, DebtWave has helped thousands of Chase customers eliminate credit card debt. Many clients also include accounts from Bank of America, Capital One, Citi, and American Express in the same debt management plan.

Clients make ACH payments on a schedule that fits their budget. Payment options include monthly, semi-monthly, biweekly, and weekly. DebtWave then distributes each payment directly to participating creditors.

Most clients complete their debt management plan and become debt free in less than five years. DebtWave's overall program completion rate is 68%.

DebtWave's Success With Chase Accounts

Between 2010 and 2024, DebtWave studied 16,017 Chase accounts enrolled in its debt management program.

The results were encouraging.

More than 10,000 Chase accounts were paid in full.
Nearly 2,000 clients remain active and continue paying down their debt.
Thousands of consumers reduced their debt through lower interest rates and structured repayment plans.

If you're overwhelmed by Chase credit card debt, don't wait. Contact Chase to ask about its hardship program. You can also speak with a nonprofit credit counseling agency to explore a debt management plan. Both options may help you lower your payments, reduce interest charges, and become debt free sooner.

The Dream of Getting Out of Debt on Your Own is Possible

Paying back your credit card debt seems like a daunting task. But it has proven to be achievable by thousands of DebtWave clients. If you would rather tackle the debt on your own, it can be achieved. Create your own plan. The first step is lower interest rates. High interest rates (25-30% APR) on credit cards makes it very difficult. This would require you to double or triple your minimum payments to make progress.

If you have your rates reduced to less than 10%, then use a payoff calculator or google spreadsheet to create a plan. Find ways to increase income and reduce expenses. Stay motivated and refrain from using cards again. Build an iron clad budget that accounts for all expenses.

Does Chase have a Hardship Program?

Yes. Chase offers credit card hardship programs designed to help eligible customers who are experiencing financial hardship. Like most major credit card issuers, Chase may provide temporary payment relief, lower interest rates, reduced monthly payments, or other assistance to help cardholders regain financial stability and avoid falling further into debt.

What if I can’t pay my Chase bill?

If you miss a Chase credit card payment, you may face late fees, penalty interest rates (if applicable), collection calls, and past-due notices. Once your account becomes 30 days past due, Chase may report the late payment to the major credit bureaus, which can significantly lower your credit score. Continued missed payments may lead to account default, collection activity, or even legal action if the debt remains unpaid

Does Chase have a Forgiveness Program?

No. Chase does not offer a formal credit card debt forgiveness program. Like most major credit card issuers, Chase may consider reducing the amount you owe only after an account becomes severely delinquent or is charged off. In many cases, debt forgiveness occurs as part of a negotiated settlement, and approval is based on your financial circumstances and Chase 's policies.

How do you qualify for Chase’s hardship program?

To qualify for a Chase hardship program, contact Chase as soon as you realize you're having trouble making your credit card payments. Be prepared to explain your financial hardship, including events such as job loss, reduced income, a medical emergency, divorce, or another unexpected financial setback. The more clearly you describe your situation and your ability to make modified payments, the better Chase can determine whether you qualify for available hardship assistance.

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