I had a debt on my Bank of America credit card (which I used to pay part of my tuition during grad school). I was unable to pay it, it went into collection and I settled with them. Now I have a charge off, saying "Charged off, settled for less than full amount" on my report.
The charge off happened in Dec 2009 and I settled with the collection agency in Aug 2010.
Does it make sense to contact Bank of America directly and see if they'd be willing to remove the entry if I paid the remaining amount?
More importantly, will the outstanding amount come back and haunt me sometime in the future?