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Military Debt
Relief

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How Veteran Debt Relief Programs Work

Members of the military often face unique financial challenges, both during service and when transitioning to civilian life. If you're struggling with expenses and overdue bills, you're not alone, and there are veteran debt relief solutions by Century Support Services to help you regain financial control.

Why Military Members and Veterans Face Debt

The financial burdens for service members and veterans are distinct. Frequent moves, the high cost of living, and the challenges of post-military life can lead to significant debt. Common causes include:

  • Moving Expenses - Permanent Change of Station (PCS) moves often come with out-of-pocket costs that aren't fully reimbursed, forcing families to rely on credit.

  • Service-Related Disability - A disability can lead to unexpected medical bills and a reduced ability to earn income, making it difficult to manage existing financial obligations.

  • Trouble Establishing a Career Post-Military - Translating military skills to the civilian job market can be challenging, leading to periods of unemployment or underemployment that strain finances.



 

How Century’s Program Works

3 steps

How Does Veteran Debt Relief Work

Veteran debt relief programs vary depending on whether you're an active service member or a veteran and what type of financial assistance you need. When it comes to unsecured debts, like credit card bills, working with a debt relief company might be the best solution:

Debt Relief Programs for Active-Duty Military

Active-duty service members have specific protections under federal law to ease financial burdens. Key programs include the Servicemembers Civil Relief Act (SCRA), which can cap interest rates on pre-service loans, Military Consolidation Loans to simplify payments, and the Military Lending Act (MLA), which limits interest rates on certain types of consumer loans for military families.

Debt Relief Programs for Veterans

Veterans also have access to dedicated financial assistance programs. VA-backed housing assistance can help prevent foreclosure for those struggling with mortgage payments. Veteran Debt Consolidation Loans can combine multiple debts into a single, more manageable payment. Additionally, the Homeowners Assistance Program (HAP) provides financial aid to qualifying military homeowners facing financial hardship.

Debt Settlement for Military Members

Debt settlement provides a path to becoming debt-free without incurring new debt. Instead of making minimum payments to your creditors for years, you'll make monthly deposits into a dedicated savings account that you control. As the funds grow, we negotiate with your creditors to accept a lower amount than what you originally owed. Once you approve the settlement, the funds are used to pay off the debt, providing more control over your financial outlook.

Frequently Asked Questions

Mounting Debt Is a Battle You Can Win

You’ve served our country with honor, so now let us serve you. Contact Our Team at Century Support Services to discuss veteran debt relief programs. We offer free no-obligation assessments to review your financial situation and discuss your personalized plan to help you reduce your debt and move forward with confidence.

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