Frankie Solomon, WalletHub Analyst
Yes, Capital One does have a credit card forbearance program. It assists customers who can’t pay their Capital One credit card bills because of unforeseen circumstances. Some types of assistance available could include lowered interest rates, debt settlement, repayment plans and more. The exact terms of the program depend on each person’s individual situation.
How to qualify for the Capital One forbearance program:
You must show that you have a financial hardship in order to receive assistance. A hardship could be the result of a natural disaster, unemployment, injury or other similar situations. Financial difficulties stemming from the coronavirus pandemic are also taken into account. Keep in mind that you may be asked to explain your current financial and employment situation, how much you can afford to pay and when you’re likely to resume regular payments.
If you think you have a good enough reason for Capital One to temporarily adjust your terms, call the number on the back of your card to get started.
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