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Century’s 3-Step program has worked for over 250,000 people and counting.

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How Century’s Program Works

Frequently Asked Questions

: In general, debt settlement can be helpful to individuals that are struggling to keep up with their minimum monthly payments or those individuals that are suffering a financial hardship due to change in employment, health issues, or other personal reasons. Success in the program will require you to accumulate funds on a regular monthly basis. The Century team will work with you to customize your monthly deposits in a way that will work for you.

: Often your credit score will decrease while you are enrolled in a debt settlement program. Our focus is to save you money by negotiating settlements on the balance owed.

: Once we negotiate a debt, you authorize that settlement, and the first payment is sent to the creditor is the time a fee associated with that particular debt is due. One thing is certain, Century does not get paid until we prove our value to you first.

Once we negotiate a debt, you authorize that settlement, and the first payment is sent to the creditor, the fee associated with that particular debt is due. At the time a fee is due, this amount will be deducted from your third party account. The Century negotiators will continue working to settle your remaining accounts and the subsequent fees will only be collected, per the process mentioned above.

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The first settlement can happen as soon as months 2-4 of a client’s program. This can vary greatly and depends on:

Your monthly savings/draft amount,
The number of creditors you have enrolled in the program, and
The balance of each individual account.

Century usually contacts your creditors once we are prepared to begin negotiations, except when dealing with certain difficult creditors. The actual negotiation activity is typically very limited until you have saved up enough in your settlement account, for us to make reasonable offers to your creditors. When we make contact, we notify them that we have authorization to communicate and negotiate on your behalf and we request future collection calls be directed to us and not you.

: When you enroll in your debt settlement program, a plan is created for you to meet your specific goals over an estimated time. Every month you deposit a preset amount into your third party reserve account. While your funds are building in this account, Century Negotiators are reviewing your file for the strategic times to contact each of your creditors to negotiate the best settlement opportunities for you. In order for us to optimize the timing of your settlements, you must be consistently depositing into your account every month. A valuable benefit to the program is your 24/7 access to the MyCentury client portal. You can see your account balance and watch your funds accumulate. Once we have a settlement opportunity for you and you approve the settlement, your creditor is paid and the confirmed amount is deducted from your account.

: You control the account. The bank account is set up in your name, and the money in the account is your money. The reason why we recommend keeping it in a new account, separate from your existing bank accounts, is that in our experience this separation dramatically increases the probability that you will succeed in the program. Century’s fees are deducted from this account each time the settlement of one of your debts is negotiated, according to our agreement. However, the accumulated savings in the account is owned by you.

: Being in debt can be a stressful life experience. On the other hand, getting out of debt is one of the most gratifying accomplishments you can achieve. This rewarding journey is often tainted with regular calls and potentially harassing communication from creditors, debt collectors, and collection attorneys. This is why Century has contracted with a national consumer advocacy group, United Consumer Advocacy Network (UCAN), which helps protect clients who make all their montly program payments and pay approximately 50% of their enrolled balance before fees, or 68% to 75% including fees, over 24-48 months, the rights of people who may fall victim to harassment.

: If you have the negotiation skills and know how the process works, you can contact your creditors yourself and see if they will negotiate your debt. But like many other complicated and stressful situations, most people choose to seek help and leave these tasks to experienced professionals, like doctors, plumbers and accountants who earn their livelihoods as specialists helping people. The Century team is experienced in helping more than 250,000+ clients and settling more than $20 million+ of our client’s debt each month. Let our experience work for you.