Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
elemenop1275

0 Contributions
0 People Helped
Creditor wont accept payment on charged off account (1099c)
So i'm trying to apply for a mortgage and need to pay off this old charge off. I contacted the creditor with the intention of paying it all in full in exchange for a "paid in full" on my credit report (my mortgage company said I need to pay it off), but they refused to take the payment. They said the debt has been "forgiven" and they wont take my money. How do I get them to take my money?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1136 People Helped

I would speak to a consumer law attorney about this matter and see if there is anything that they can do to help you. You should also address this with the loan officer that you spoke with. Also consider looking around for more lenient mortgage lenders.

Top Contributor
7373 Contributions
3812 People Helped

Helpful to 0 out of 1 people

Sorry, but it is their choice.  The reason for the charge-off was that you were not making the agreed payments.  The 1099c was filed with the IRS and can't be taken back. You just have to live with the consequences of your failure to keep your part of the agreement.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.