CREDIT CARD REHAB?

I have a question to throw out there to my friends in cyberspace. I'm not sure how familiar any of you are with the Student Loan Rehab program, but I went through it. Basically, it's when you default on your student loans and you either contact or get contacted by Direct Loans or an "agency" representing them. Trust me though, it's really the road to recovery - a road full of bumps but worth it nonetheless. Here's the skinny, and I'm summarizing:

1. You send them statements about what you earn.
2. They tell you what they need you to pay (up to 15% of your "disposable" earnings).
3. You set up payment arrangements with them.
4. You pay for 9 consecutive months.
5. Your loan then goes back to Direct Loans.
6. You are in good status as though you were never late.

You can go here to get more information.

After all of that, my question is this: 

With the current mortgage crisis and now the resulting (or concurrent) credit card situation, why don't credit card companies offer the same kind of program? If you work out a deal with them and you pay them on time or even a larger monthly payment during the "rehab" period, you then go to current status as though you were never late. I ask this question because it is unclear to me what the incentive is (other than it being the right thing to do, I say that without judgement either way) when if you try to pay off your credit card, your credit will be adversely affected while you are paying and once paid off, for 7 years after that. Could that be why so many people declare bankruptcy and just say, "fuck it"? 

I would like to hear what success stories people out there have had with credit card debt and how they made sense of all of this.

Disclaimer time: I'm not having credit card issues right now, but I know many people are so I felt this could benefit those people; also, I'm not an economist so don't quote me on any specifics I've mentioned - I just know what worked for me and my student loans.