In financial terms, hardship refers to situations where an individual cannot meet financial obligations due to unforeseen events, such as job loss, illness, or natural disasters. Financial hardship often affects one’s ability to make regular payments on loans or bills. Many lenders offer hardship programs, which may include temporary payment reduction or deferral options. These programs provide relief and flexibility for those facing tough circumstances, helping to avoid long-term consequences like debt accumulation or credit score damage during difficult times.