Will credit card issuers waive your payments after an unexpected job loss?

Many card issuers offer help to borrowers who are facing major hardships, but are payment waivers an option? PhanuwatNandee/Getty Images

Losing a steady paycheck can hit hard, especially when the bills keep coming. And, in today's economic landscape, those bills aren't just continuing. They're also growing, especially for those who have racked up credit card debt . According to the latest Federal Reserve data, the total amount of credit card debt nationwide topped $1.2 trillion earlier this year — and the average card comes with an interest rate of over 21% . As a result, the interest charges can rack up quickly, and so can the late fees and other charges.

And, for someone who's suddenly out of work, the rapidly compounding interest could cause even the minimum paymen