Most credit card companies do not have a formal forgiveness program. In order for a creditor to forgive a portion of your debt, you would need to be severely delinquent. Usually more than 6 months behind. At that point, most creditors would be willing to receive a lump payment of 40-60% of the balance and forgive the remaining balance. However, the amount forgiven would typically be considered taxable income by the IRS.

Yes. Most credit card companies have a hardship program including Macy's (Citibank). Banks will temporarily lower your interest rate for about 6-12 months to help you get back on track. Sometimes, they may lower your payment as well. Your financial hardship must be compelling to merit the benefits. Credit counseling agencies offer hardship programs that last up to 60 months.

Yes (Kind of). Once you fall severely delinquent with your payments, most credit card companies like Macy's or collection agencies will settle for 30-60% of your balance. However, you must be pay that amount in one lump payment.  If you are not willing to fall behind and damage your credit, they do offer an internal hardship program. And Macy's also works with credit counseling agencies to lower your interest rate and payments. Make sure these agencies are nonprofit.