Is hardship assistance better than missing payments?

Yes. If you are struggling to make your payments, it is important to recognise that a history of repeated missed payments will show on your credit report and can make it harder for you to get credit in the future. If missed payments continue, it could even result in a default being recorded on your credit report. 

If you miss payments, it will show on your credit report. This means your credit score will go down, which can make it harder to get credit in the future.  

A financial hardship arrangement will change how often or how much you need to pay. If you pay on time with the new arrangement, then your credit report will show your payments as paid.