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Posted in Mortgage
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Question By
jhuynh

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0 People Helped
voluntary payment for cap one charge off to get a mortgage
I have 2 charge off cap one accounts. when I called them they said it was a forgiven debt and i could make a voluntary payment, also a 1099c was sent.
I'm trying to buy a house and the lender wants me to take care of this. on the credit report the amount that shows is $3000 for both account. Can I pay any amount and will it show paid or zero balance at the report? how do I proof to the lender the accounts has been paid even if its not the full amount?
thanks!

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Top Contributor
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Totally guessing here, but I would think the lender would expect you to pay these in full. It's not a matter of closed versus open, because this account is already closed. Your lender wants you to pay your debt, not settle. In any case, a call to your mortgage person would clarify the matter.

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