Debt Relief for Seniors

Century’s 3-Step program has worked for over 255,000 people and counting.

Learn how debt settlement works.

Explore Debt Relief Programs for Seniors

Your golden years are a time to spend your life doing things you enjoy and might not have had time for while working or raising a family, without worrying about finances. Century Support Services offers debt relief programs for seniors that can reduce unsecured debt, such as credit card balances, by up to 50%. If you're over 65, you have options to take more control of your current finances and build a stronger position for the future.

Overcoming Debt on a Fixed Income

It's not uncommon for seniors to struggle to balance a fixed income with rising costs, unexpected healthcare expenses, and home maintenance needs. If the monthly bills are higher than your sources of income, you might turn to credit cards. As bills pile up, making minimum payments can feel like running in place; you're active, trying to keep up, but never getting ahead. Century Support Services offers a debt relief plan for seniors to help you tackle unsecured debts like credit cards, medical bills, and personal loans.

How Century’s Program Works

Differentiating Between Types of Debt for Seniors

Why are debt resolution plans only available for unsecured debts? Secured debts are tied to an asset, such as your home or car, which serves as collateral that the lender can seize if payments stop. In contrast, unsecured debts, such as credit card balances or medical bills, are based on your promise to pay and aren't tied to any physical property. Our program focuses exclusively on unsecured loans and credit card debt relief for seniors. They often carry the highest interest rates, which keep you trapped in a cycle of paying what you can afford without making a dent in the principal. We work directly with your creditors to negotiate settlements for less than what you owe, resolving your obligations without risking your home or your most valued assets.

The Century Support Services Advantage

We understand the unique financial challenges seniors face. Our SmartTrack™ program offers a straightforward path to manage your debt in a way that works with your finances:

Reduce Credit Card Debt - Stop the cycle of interest. Our goal is to reduce your credit card debt by up to half, giving you significant relief from the burden of monthly payments.
Negotiated Settlements - Our Certified Debt Specialists negotiate directly with creditors on your behalf. We work to lower the total principal amount you owe, saving you money in the long run.
Personalized Debt Reduction Plan - No two financial situations are the same. SmartTrack™ offers a customized, easy-to-use solution that fits your budget and retirement goals.
Transparent Pricing - We believe in total honesty. Our pricing model is completely transparent, and you won't pay until we've settled your debt, so you always know where you stand.
Expert Support - You're never alone in this process. Gain access to dedicated expert support from live debt specialists and track your journey 24/7 through the MyCentury portal.
No Upfront Fees - Start your journey to debt relief without initial costs, and pay only when you approve a settlement; just one more reason to have trust and faith in our process.

Differentiating Between Debt Relief Options

To help you understand all the paths available to you and how they might benefit or hinder your goals, here is a look at additional debt relief options for senior citizens:

Consolidation Loans - This involves taking out a new loan to pay off multiple debts. While it simplifies payments by consolidating multiple balances into one, it requires a good credit score and doesn't actually reduce the total amount you owe. It just shifts the debt to a new lender offering a lower interest rate.
Credit Counseling - Credit counseling agencies work with you to create a budget and negotiate with your lenders to achieve lower interest rates on your outstanding balances. However, this route doesn't focus on reducing the full principal amount of your debt, so it can take longer to resolve.
Bankruptcy - Bankruptcy is a legal process that can discharge debts, but has severe, long-lasting adverse effects on your credit score and financial privacy. It's generally considered a last resort because it becomes public record and puts the courts in charge of determining which of your assets should be sold to pay creditors.

Protecting Yourself from Scams

Seniors are often targeted by scams, including fraudulent debt relief operators. Protecting your family and finances means knowing what to avoid. Be wary of any company that:

Guarantees Debt Elimination - No legitimate company can promise to make debt disappear completely or guarantee specific outcomes before negotiating.
Demands Upfront Fees - No debt settlement company should charge you before they have settled your debt.
Lacks Transparency - Avoid companies that won't give you clear, written information about their services and fees.
Uses Fear Tactics - Don't trust high-pressure sales pitches that try to scare you into signing up immediately.
Sends Unsolicited Offers - Be cautious of unexpected calls or emails promising miraculous debt relief solutions that sound too good to be true.

Frequently Asked Questions

: Debt settlement is generally best for individuals struggling with high amounts of unsecured debt, such as credit cards or medical bills, and who are experiencing financial hardship. Prime candidates may have outstanding debt exceeding $10,000 and a history of late or missed payments. Even when faced with these challenges, debt settlement is a viable option to avoid bankruptcy.

: After a free consultation with one of our Certified Debt Specialists to see if you qualify, we’ll discuss a set amount of money you’re comfortable saving each month. You stop paying your creditors, and instead, deposit that agreed amount into an FDIC-insured savings account. When a significant balance has accrued, we’ll contact your creditors to settle your debt. If you approve the proposal, you’ll use the funds from that account to pay your creditors and our fee for successful settlement.

: It’s possible to contact creditors on your own to settle your debts. However, creditors and collectors are trained and experienced in collecting overdue debts from borrowers. The process is stressful and time-consuming, especially if you’re not a skilled negotiator. Our team has decades of experience in this process and knows which creditors are likely to settle and what they’re willing to accept. The majority of borrowers find comfort in knowing professionals are working in their best interest and don’t have to deal with the anxiety of negotiating with creditors, as we provide a faster resolution.

: Yes, debt settlement will likely lower your credit score initially. The reason is that you'll stop making payments to creditors, and deposit a set amount each month into a savings account instead, while negotiations take place. When you approve a settlement and use the savings account to pay down the new debt amount, you'll be on a path to rebuild your credit score without being held back by excessive debt.

: Seniors seeking debt relief through settlement are in a burdened financial situation with no clear end in sight. If you have a high debt-to-credit utilization ratio, meaning your total unsecured debt is 30% or more of your available credit, it can impact your credit score. Additionally, missing or paying bills late also lowers your credit score. Those pursuing debt settlement are typically already facing credit score damage, even if they don't enroll in our program.

: When a person passes, their unsecured debts still need to be paid off, which usually comes out of their estate, leaving less for family and loved ones in the will. This is one of the many reasons seniors try to resolve outstanding debts, leaving less for the estate to manage.

: It's natural to wonder why a lender or creditor would accept less than what is owed to them. They start to consider this when a person has so much outstanding debt that they have no means to pay it back. In bankruptcy, debts are wiped out, so creditors who are owed get nothing. In debt settlement, a creditor will often accept up to half of what is owed to get something if they realize the consumer's only other option is bankruptcy.

Take the First Step Today

It's not enjoyable to carry the weight of debt forever. Consider a debt relief plan for seniors through Century Support Services to learn how you can get better control of your finances. Our team is ready to help you explore your options with a free, no-obligation consultation. Let us help you create a plan to restore your peace of mind. Contact a Certified Debt Specialist today to see if you qualify.

Helpful Smart Money Resources

Can Medical Debt Be Included In Debt Settlement?

View Resource Center