What the Chase Hardship Plan is and who can request it

Chase's Hardship Plan is a program that lets you contact Chase directly to discuss options if you're struggling to make payments on a credit card, personal loan, or other Chase debt. It's not automatic — you have to call and ask for it. Chase doesn't advertise it heavily, but the program exists specifically for people facing temporary financial difficulty: job loss, medical emergency, divorce, or reduced income.

When you call and mention hardship, Chase transfers you to a department trained to negotiate. They can't erase your debt, but they can restructure it — lower your interest rate, reduce your monthly payment, pause interest temporarily, or combine those options. The goal is to find something you can actually pay instead of defaulting entirely.

You don't need to be behind on payments yet to call. In fact, calling before you miss a payment often gives you more options. Once you're 30 or more days late, your options narrow and the damage to your credit score accelerates.

Key Takeaways

  • You must call Chase directly to request hardship consideration — it doesn't happen automatically, and there's no online form to submit.
  • Chase can lower your interest rate, reduce your monthly payment, defer payments temporarily, or combine these options, but cannot forgive the debt itself.
  • Calling before you miss a payment gives you stronger negotiating position than calling after you're already late.
  • Any agreement you reach will be documented in writing, and you should request a copy before making your first payment under the new terms.
  • The hardship plan may affect your credit score depending on how it's reported, so ask Chase specifically how they'll report it to credit bureaus.

How to contact Chase and what to say

Call the customer service number on the back of your Chase card or statement. Tell them you're experiencing financial hardship and want to discuss options. You'll be routed to the hardship department. Have your account number ready.

Be specific about your situation: job loss with an expected return date, medical bills, reduced hours, or whatever applies. Chase uses this information to decide what they can offer. Vague requests get vague responses. If you lost your job, say when. If your hours were cut, say by how much. If you have medical debt, say the amount.

Ask what options are available for your account type and situation. Don't accept the first offer if it still doesn't fit your budget — you can negotiate. If the first representative won't budge, ask to speak to a supervisor. Different representatives have different authority levels.

What Chase can and cannot do

Chase can lower your interest rate — sometimes to 0% for a set period, sometimes to a fixed rate below your current APR. They can reduce your monthly payment by extending the loan term or temporarily lowering the amount due. They can pause interest accrual for a few months while you stabilize. They can sometimes combine a rate reduction with a payment reduction.

Chase cannot forgive the principal balance — you still owe the full amount you borrowed. They cannot remove late payments that already appear on your credit report. They cannot may provide your credit score won't drop; hardship plans are often reported to credit bureaus, and the fact that you requested one signals risk to other lenders.

What Chase offers depends on your account history, how long you've been a customer, and how much you owe. A customer with five years of on-time payments who suddenly faces hardship gets more flexibility than someone already behind. A $2,000 balance gets different treatment than a $20,000 balance.

How hardship plans affect your credit score

A hardship plan itself doesn't automatically tank your credit score the way a missed payment does. However, Chase reports the account status to credit bureaus, and different reporting methods have different impacts. Some hardship plans are reported as "account in forbearance" or "payment plan," which signals to other lenders that you're in trouble. This can lower your score by 50 to 100 points depending on your starting score and credit history.

If you've already missed payments before requesting hardship, those missed payments are already on your report and already damaging your score. A hardship plan can prevent further damage by stopping additional late payments from accumulating. In that scenario, the hardship plan is the better outcome.

Ask Chase specifically how they will report your account to Equifax, Experian, and TransUnion. Get the answer in writing. Some hardship plans are reported as "current" if you make payments on time under the new terms, which is better for your score than "forbearance."

What happens after you reach an agreement

Chase will send you a written agreement outlining the new terms: the new interest rate, the new payment amount, the payment due date, and how long the plan lasts. Read this carefully. If anything doesn't match what you discussed on the phone, call back when ready to correct it before you make your first payment.

Make your payments on time under the new terms. Missing a payment on a hardship plan can end the agreement and return your account to standard terms — sometimes with penalties. Set up automatic payments if possible to avoid accidental late payments.

Hardship plans are usually temporary, lasting 3 to 24 months depending on what you negotiated. When the plan ends, your account returns to standard terms unless you renegotiate. If your situation improves, you may be able to pay off the balance faster. If you're still struggling when the plan ends, you can request another hardship plan, though Chase may be less flexible the second time.

Alternatives if Chase won't work with you

If Chase denies your hardship request or offers terms you can't accept, you have other paths. A credit counselor through the National Foundation for Credit Counseling (NFCC) can contact Chase on your behalf and sometimes negotiate better terms than you can alone. This service is free or low-cost.

A debt management plan (DMP) through a credit counseling agency consolidates multiple debts into one monthly payment. The agency negotiates with your creditors, including Chase, to lower interest rates and freeze late fees. You pay the agency, and they distribute to creditors. This appears on your credit report as a debt management plan, which has a credit impact, but it's often less damaging than defaulting.

Debt settlement is a last resort: you stop paying and let the account go delinquent, then negotiate a lump-sum payment for less than you owe. This severely damages your credit and can result in a lawsuit, but it ends the debt faster if you have cash available. Only pursue this with guidance from a credit counselor or attorney.

Questions to ask Chase before you agree

Before you accept any hardship plan, ask these questions and get the answers in writing:

  • What is the new interest rate, and how long does it last?
  • What is the new monthly payment, and when is it due?
  • How long does this plan last, and what happens when it ends?
  • How will Chase report this account to credit bureaus?
  • If I miss a payment under this plan, what happens?
  • Can I pay off the balance early without penalty?
  • Will you send me a written agreement before the plan starts?

Frequently Asked Questions

Do I have to be behind on payments to request a hardship plan?

No. Calling before you miss a payment is actually better — you have more negotiating power and can prevent damage to your credit score. Once you're 30 days late, Chase's options narrow and your credit score drops faster. If you see hardship coming, call early.

Will a hardship plan stop Chase from suing me?

A hardship plan stops collection activity while you're making payments under the agreed terms. If you default on the hardship plan itself, Chase can resume collection and potentially sue. The plan is a contract — breaking it has consequences.

Can I request a hardship plan more than once?

Yes, but Chase becomes less flexible. A second hardship plan is possible if your situation genuinely changed, but you'll have less room to negotiate. Multiple requests signal ongoing financial instability, which limits what Chase will offer.

What if I can't afford the payment Chase offers under the hardship plan?

Tell them. Ask for a lower payment or longer term. If Chase won't budge, you can decline the plan and explore other options: credit counseling, debt management, or consulting a bankruptcy attorney if your total debt is very high.

Does a hardship plan hurt my credit score as much as missing payments?

No. A hardship plan typically causes less damage than missed payments because it shows you're working with the lender. However, it still signals risk to other lenders and may lower your score by 50 to 100 points depending on how Chase reports it. Missing even one payment usually causes more damage.