charge offs - pay in full?

[Anonymous]

My husband has two old cc accounts that say charged off/closed we need to take care of before receiving the clear for a mortgage from 2007/2008.

I know at times accounts are bought and transferred to another collector.  Is it ok to settle with a deal to close them or do we have bite the bullet and pay the full amount?

One is 7400 and the other is 3100 and didn't know if we could pay substantial less if that would impact approval showing payment was less than full.

thanks

[Vegas247]

Don't settle or pay.......contest them, and have these debts validated......you will be surprised at how they probably will have no proof at all that you owe this so call debt...and That they will come off your credit report like leafs fall off tress in the Fall time. 

[RobertEG]

I am presuming that the fact that is was charged-off is not the issue you need to address, but rather the fact that, regardless of who owes it, the debt is unpaid?

What is the mortgage lendor requiring as a condition for loan approval?

Has a collection reported?

[Anonymous]

^^^^ +1

Yes, you need to confirm with the lender whether "Settled" status is adequate or not.