Does credit card debt forgiveness hurt your credit?

Yes, when debt is forgiven or settled for less than the full amount, this gets reported to credit bureaus as "settled" or "paid for less than the full balance." This tells lenders that you didn't repay the full debt as agreed upon, though the impact this has on your credit score varies on your overall credit history and other factors.

Is there a government credit card debt relief program?

There is no specific government program solely for credit card debt relief other than filing for bankruptcy. Chapter 7 bankruptcy can discharge most unsecured debts, including credit card debt, though this has serious long-term consequences to both your credit score and your financial standing.

Is there a program to write off credit card debt?

There is no formal program to "write off" credit card debt. However, debt settlement programs can help you pay less than what you owe, though this typically results in consequences to your credit score and potential legal ramifications, such as tax liability on the forgiven debt. Bankruptcy is another legal process for unsecured debt, but this option can also have severe long-term consequences for your credit and financial health.

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