What are some tips for completing Hardship Application for credit cards?

My husband and I are in financial trouble and our credit card company has offered us the option of applying for hardship status. What is the best way to complete this form? I know we have to demonstrate that we can at least pay something (which we can), but I wanted to see if there were any tips regarding getting the approval? In short, what are the credit card companies looking for in terms of your monthly net income after expenses?

What are some tips for completing Hardship Application for credit cards?

The credit card companies will ALWAYS do what is in their best interest regardless of how good of a job you do in filling out the hardship application. Yet, for what it%26#039;s worth: If what you write down indicates to them that your financial problems are long-term, this could cause them to close the account and sell it to a collection agency, for example.....I guess the best thing would be to indicate that your problems are short-term in nature..(if that%26#039;s the case). Be careful that their accepting your %26quot;hardship%26quot; application doesn%26#039;t involve their boosting your interest rate up to the default rate of 30%+. If this happens, if you just make the minimum payment.....almost all of your payment will go just to the interest alone and the account balance will never go down.

Another option is to contact your local Red Cross for a referral to the Consumer Credit Counseling Services (CCCS) in your area.....CCCS at best can negotiate lower (or no) interest rates....They do not negotiate settlements.

WARNING: Stay away from any debt counseling firm you see advertised on TV...Almost all are predators looking to take advantage of people in your situation.