Financial Hardship
If you're dealing with job loss, a medical crisis, divorce, disability, or another sudden hardship, you have more options than it might feel like right now. Creditors and lenders generally have real, practical ways to help — but most of them work best when you reach out early. This guide walks through what's available and how to start the conversation.
Why Reaching Out Early Helps
Creditors generally have more flexibility to offer before an account is seriously delinquent than after. Waiting doesn't make the conversation easier — it usually narrows your options. If you're facing hardship, contacting your creditor proactively is one of the most useful things you can do.
Main Hardship Response Types at a Glance
How to Start the Conversation
- Call before you miss a payment, if at all possible
- Briefly explain what's happening — you don't need to justify it in detail, just be honest
- Ask directly what hardship options are available for your account
- Get any agreement in writing before you rely on it
Frequently Asked Questions
What counts as financial hardship?
Job loss, a medical crisis, divorce, disability, and natural disasters are all commonly recognized categories of hardship by creditors and lenders. Read more →
Should I tell my creditor about my hardship?
Generally yes, and sooner rather than later — most creditors have more options available before an account falls seriously behind than after. Read more →
What's the difference between forbearance and a loan modification?
Forbearance is a temporary pause or reduction; a loan modification is a permanent change to your loan terms. Read more →
Where can I get emergency help right now?
See our Emergency Financial Assistance guide for utility, rental, and food assistance resources, plus how to find local help. Read more →
Need to see where your money is going right now? Try our Budget Calculator →