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The first settlement can happen very early into your program. In fact, a large percentage of our clients achieve a first settlement by the end of their first month on the program, after they have at least completed one full monthly program deposit.
However, the timing does depend of a few factors:
- Your monthly program deposit amount
- The number of creditors you have enrolled
- The current balance of each individual account
Century usually contacts your creditors once you have funds built in your special purpose account that allows our settlement team to engage in negotiations. Some creditors have a very aggressive collection workflow and therefore the timing of contacting them is part of a strategic plan tailored for you.
Continue to stay the course by consistently making your monthly program deposits & communicating with Century should anything change in your budget.
Did this answer help?
-
Communication from your creditors is a very normal part of the collection process and their desire to collect on your debt. These calls are designed to get a payment from you in an effort to bring your account current.
Staying the course on your debt relief plan is the best path to achieve your goals toward better financial health.
We understand that collection calls can add some additional stress which is why we will work with you to ensure that the creditors aren’t violating the collection practice guidelines. CLICK HERE for additional information on collection practices and what is considered harassment or a violation.
For this reason, Century has contracted with a national consumer advocacy group, United Consumer Advocacy Network (UCAN), which protects the rights of people who may fall victim to harassment. As a Century client, you will receive the benefits of their Creditor Intervention Program. Their program works with you to handle these harassing calls. It is our belief that you should be treated with respect as you work toward an admirable goal...Financial Freedom.
Did this answer help?
-
YOU control the third party bank account. When you approve your new deals, it is important that your money is available in your special savings account so we can begin initiating your authorized payments to your creditors.
Working with your creditors to reach an agreement for less than the full balance is what we call a settlement. Making your agreed upon monthly program deposit is so important to ensure those funds are available when needed.
The special savings account is set up in your name and the money you deposit is used for the exclusive purposes of payments to your creditors and Century’s earned settlement fees. Your efforts to budget for this money and consistently deposit is what helps us achieve success for you!
Did this answer help?
-
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.
Often there is a short-term impact which may include seeing your credit rating decrease, but remember the primary goal of this hardship program is to assist you in achieving better financial health. While you are enrolled on the Century program, you are reducing your debt balances in a very strategic timeframe, and the good news is we can move as fast as the resources you provide! So, the faster we can resolve these accounts the easier it will be for you to restore your credit.
Most clients who enter the Century program with a FICO score above 600 typically see an initial decline happen over the first 3 months of the program. However, these clients on average see a FICO increase by the 6th month on the program.
Did this answer help?
-
Most Americans are receiving so many spam calls every day, it can be very difficult to know which calls you should answer. Communication is key because making your program deposits, and staying focused on your goal will ensure a successful Century journey!
As part of this journey, we want to ensure that our client service communication doesn’t get lost in the shuffle. Below is our contact information including a QR code so you can add it to your mobile device. This will allow you to see our Century name when we call or text you with valuable & often time sensitive information regarding your program.
Scan the QR code with your smartphone to ensure our important contact numbers below will be set up as a contact in your phoone. - 724-861-3401
- Our text number - 47234
Did this answer help?
-
Our many years of experience in debt settlement have given us many strategies when it comes to negotiating with your creditors. We may not contact each of your creditors immediately when you first start your Century journey, as some creditors may accelerate their collection workflow if they learn too early that a client is enrolled in a debt relief program. Our team has a wealth of knowledge & a history of working directly with your enrolled creditors. Often the best strategy includes specific timing on when to engage into negotiation with your creditor that maximizes the savings that will be most beneficial for you!
Did this answer help?
-
It is important to keep in mind that creditors will typically continue to add interest and late fees to accounts that are delinquent. Many creditors stop assessing interest and fees once they have charged-off the debt (typically 6 months following your last payment). However, others may not stop those assessments.
As part of your financial hardship, you have made the independent decision to stop paying your creditors monthly. Your accounts will began to enter into a collections workflow. As part of that workflow, your enrolled debt will become delinquent.
Our goal is to negotiate substantial reductions to the balances on your accounts, including any interest and fees that may have been assessed. Right now, you are redirecting your funds into your special purpose account, which is an important step in resolving your outstanding balances.
Did this answer help?
-
A creditor may report any cancelled/settled debt amount over $600 to the IRS and you may be required to report this amount as income on your tax return. Your Century Debt Settlement Agreement does include a section about this information.
If you do have any questions regarding any tax documentation you have received from one of your creditors, you can contact a tax professional to discuss that matter further. The IRS considers a forgiven debt as taxable income and you may have a tax obligation. IRS Form 982 allows certain hardship situations to be exempt from this tax obligation and a tax professional can review this with your further
Did this answer help?
-
When our Negotiators have a settlement offer waiting for your approval, we will make contact with you. For your convenience, we have convenient ways for you to approve your offers:
- Log in to the MyCenturyclient portal 24 hours a day and click on the red button, located at the top of your portal page, to review and approve your pending offers,
OR - Simply respond that you ACCEPT to one of the settlement authorization emails that our team has sent to you recently,
OR - Call our Customer Service team during business hours. They will take your call, review your offer and obtain your recorded authorization to accept the settlement. Our main number is 724-861-3401 or 888-913-8784 and select option 3.
Did this answer help?
- Log in to the MyCenturyclient portal 24 hours a day and click on the red button, located at the top of your portal page, to review and approve your pending offers,
-
If you haven't registered for the MyCentury portal, that is the first step. Click on the button to be directed to the MyCentury login page. Once at the login page, click on the 'First Time User Setup' button. You will need your Client ID to register.
If you are not a new user, you can login directly from the main login page by clicking the button above or by navigating to our main website at www.centuryss.com and selecting 'Enter MyCentury' located in the upper right hand corner of the page.
Did this answer help?
-
Each month that you successfully make a deposit into your special purpose account, your are one step closer to completing your program and meeting your ultimate goal of achieving better financial health! While your are saving money in your special purpose account, your negotiators are also reviewing your file for the most strategic time to contact each of your creditors to negotiate the best settlement opportunities for you. Having a successful program is really dependent on you making consistent, on time, deposits every month!
You have access to your MyCentury Client Portal 24/7 and can log in anytime to see your account balance or link directly to your Third Party Payment Processor. Additionally, when you’ve approved a settlement with one of your creditors, you can track the payments that are being sent out to the creditors as well!
Did this answer help?
-
First and foremost, Century does not earn a fee until we prove our value to you! How we do this is by successfully negotiating settlements, on your behalf. Once we negotiate on a debt, you authorize that settlement, and the first payment is sent to the creditor, the earned settlement fee associated with that particular debt is due.
While the fee is due at the time of the settlement, what sets Century apart is that we will always prioritize your settlement opportunity and may elect to collect our earned settlement fee over installments to help your program stay on track or to help you take advantage of that settlement opportunity. The best part is that the settlement fees are fixed and will not change. They are based on a percentage of your enrolled debt and are outlined in your debt settlement agreement – so you know UPFRONT the exact amount you will be responsible for before you make the decision to execute your agreement.
Did this answer help?
That's great! We are happy that we could answer your question!
-
The first settlement can happen very early into your program. In fact, a large percentage of our clients achieve a first settlement by the end of their first month on the program, after they have at least completed one full monthly program deposit.
However, the timing does depend of a few factors:
- Your monthly program deposit amount
- The number of creditors you have enrolled
- The current balance of each individual account
Century usually contacts your creditors once you have funds built in your special purpose account that allows our settlement team to engage in negotiations. Some creditors have a very aggressive collection workflow and therefore the timing of contacting them is part of a strategic plan tailored for you.
Continue to stay the course by consistently making your monthly program deposits & communicating with Century should anything change in your budget.
Did this answer help?
-
Communication from your creditors is a very normal part of the collection process and their desire to collect on your debt. These calls are designed to get a payment from you in an effort to bring your account current.
Staying the course on your debt relief plan is the best path to achieve your goals toward better financial health.
We understand that collection calls can add some additional stress which is why we will work with you to ensure that the creditors aren’t violating the collection practice guidelines. CLICK HERE for additional information on collection practices and what is considered harassment or a violation.
For this reason, Century has contracted with a national consumer advocacy group, United Consumer Advocacy Network (UCAN), which protects the rights of people who may fall victim to harassment. As a Century client, you will receive the benefits of their Creditor Intervention Program. Their program works with you to handle these harassing calls. It is our belief that you should be treated with respect as you work toward an admirable goal...Financial Freedom.
Did this answer help?
-
YOU control the third party bank account. When you approve your new deals, it is important that your money is available in your special savings account so we can begin initiating your authorized payments to your creditors.
Working with your creditors to reach an agreement for less than the full balance is what we call a settlement. Making your agreed upon monthly program deposit is so important to ensure those funds are available when needed.
The special savings account is set up in your name and the money you deposit is used for the exclusive purposes of payments to your creditors and Century’s earned settlement fees. Your efforts to budget for this money and consistently deposit is what helps us achieve success for you!
Did this answer help?
-
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.
Often there is a short-term impact which may include seeing your credit rating decrease, but remember the primary goal of this hardship program is to assist you in achieving better financial health. While you are enrolled on the Century program, you are reducing your debt balances in a very strategic timeframe, and the good news is we can move as fast as the resources you provide! So, the faster we can resolve these accounts the easier it will be for you to restore your credit.
Most clients who enter the Century program with a FICO score above 600 typically see an initial decline happen over the first 3 months of the program. However, these clients on average see a FICO increase by the 6th month on the program.
Did this answer help?
-
Most Americans are receiving so many spam calls every day, it can be very difficult to know which calls you should answer. Communication is key because making your program deposits, and staying focused on your goal will ensure a successful Century journey!
As part of this journey, we want to ensure that our client service communication doesn’t get lost in the shuffle. Below is our contact information including a QR code so you can add it to your mobile device. This will allow you to see our Century name when we call or text you with valuable & often time sensitive information regarding your program.
Did this answer help?
-
Our many years of experience in debt settlement have given us many strategies when it comes to negotiating with your creditors. We may not contact each of your creditors immediately when you first start your Century journey, as some creditors may accelerate their collection workflow if they learn too early that a client is enrolled in a debt relief program. Our team has a wealth of knowledge & a history of working directly with your enrolled creditors. Often the best strategy includes specific timing on when to engage into negotiation with your creditor that maximizes the savings that will be most beneficial for you!
Did this answer help?
-
It is important to keep in mind that creditors will typically continue to add interest and late fees to accounts that are delinquent. Many creditors stop assessing interest and fees once they have charged-off the debt (typically 6 months following your last payment). However, others may not stop those assessments.
As part of your financial hardship, you have made the independent decision to stop paying your creditors monthly. Your accounts will began to enter into a collections workflow. As part of that workflow, your enrolled debt will become delinquent.
Our goal is to negotiate substantial reductions to the balances on your accounts, including any interest and fees that may have been assessed. Right now, you are redirecting your funds into your special purpose account, which is an important step in resolving your outstanding balances.
Did this answer help?
-
A creditor may report any cancelled/settled debt amount over $600 to the IRS and you may be required to report this amount as income on your tax return. Your Century Debt Settlement Agreement does include a section about this information.
If you do have any questions regarding any tax documentation you have received from one of your creditors, you can contact a tax professional to discuss that matter further. The IRS considers a forgiven debt as taxable income and you may have a tax obligation. IRS Form 982 allows certain hardship situations to be exempt from this tax obligation and a tax professional can review this with your further
Did this answer help?
-
When our Negotiators have a settlement offer waiting for your approval, we will make contact with you. For your convenience, we have convenient ways for you to approve your offers:
- Log in to the MyCenturyclient portal 24 hours a day and click on the red button, located at the top of your portal page, to review and approve your pending offers,
OR - Simply respond that you ACCEPT to one of the settlement authorization emails that our team has sent to you recently,
OR - Call our Customer Service team during business hours. They will take your call, review your offer and obtain your recorded authorization to accept the settlement. Our main number is 724-861-3401 or 888-913-8784 and select option 3.
Did this answer help?
- Log in to the MyCenturyclient portal 24 hours a day and click on the red button, located at the top of your portal page, to review and approve your pending offers,
-
If you haven't registered for the MyCentury portal, that is the first step. Click on the button to be directed to the MyCentury login page. Once at the login page, click on the 'First Time User Setup' button. You will need your Client ID to register.
If you are not a new user, you can login directly from the main login page by clicking the button above or by navigating to our main website at www.centuryss.com and selecting 'Enter MyCentury' located in the upper right hand corner of the page.
Did this answer help?
-
Each month that you successfully make a deposit into your special purpose account, your are one step closer to completing your program and meeting your ultimate goal of achieving better financial health! While your are saving money in your special purpose account, your negotiators are also reviewing your file for the most strategic time to contact each of your creditors to negotiate the best settlement opportunities for you. Having a successful program is really dependent on you making consistent, on time, deposits every month!
You have access to your MyCentury Client Portal 24/7 and can log in anytime to see your account balance or link directly to your Third Party Payment Processor. Additionally, when you’ve approved a settlement with one of your creditors, you can track the payments that are being sent out to the creditors as well!
Did this answer help?
-
First and foremost, Century does not earn a fee until we prove our value to you! How we do this is by successfully negotiating settlements, on your behalf. Once we negotiate on a debt, you authorize that settlement, and the first payment is sent to the creditor, the earned settlement fee associated with that particular debt is due.
While the fee is due at the time of the settlement, what sets Century apart is that we will always prioritize your settlement opportunity and may elect to collect our earned settlement fee over installments to help your program stay on track or to help you take advantage of that settlement opportunity. The best part is that the settlement fees are fixed and will not change. They are based on a percentage of your enrolled debt and are outlined in your debt settlement agreement – so you know UPFRONT the exact amount you will be responsible for before you make the decision to execute your agreement.
Did this answer help?