Capital One credit card hardship programs.

With tens of thousands of their customers behind on their debts, Capital One continues to offer credit card hardship programs. Capital One has had to write off a large amount of accounts, so they have decided it is better to work with customers to try to assist them with paying some bills rather than needing to write off the entire account. The hardship programs offered by Capital One provide a variety of assistance, including waiving interest for up to a year, settlements, and a variety of payment plans. They have offered cardholders zero interest rates for up to 6 months to help them catch up, and also offer settlements, payment plans, and are waving fees.

Below are examples of how people are getting help from the Capital One hardship programs. Also, find additional credit card assistance programs. More.

Examples of savings from Capital One hardship programs.

• A customer settled their outstanding credit card debt with Capital One for 60% of the outstanding balance. Capital One agreed not to report it to the credit agencies. The customer dialed 1 800 955 6600 to speak to a representative.
   
• Another cardholder was able to enter the hardship program, and had their interest rate lowered to .9% while debt settlement was negotiated. Capital One did not offer to settle the debt, and it may be because the customer missed a couple payments while on the hardship plan. So it is key to not miss a payment. Some say that Cap One will not offer assistance unless you stop paying. Once you do that, they may send it to a collector, but you should be able to settle or enter a program at that point. After going thru the process, this customer also had 60% of their debt waived.
   
• Information from one customer indicated that Capital One threatened to sue them after they missed a few payments. The account was also sent to collections. The customer called, told them their situation, was transferred around. After multiple calls, they were finally offered the hardship program. The deal was 3% interest for a year, and they also ending up settling at 75% after a few months.