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After giving them time to correct, and it doesn't reflect the account in good standing, contact them again and advise them you had an oral agreement with one of their reps and explain what was negotiated.
When I dealt with them, it was updated on my bureau within 4 days max. So watch those reports.
An update to this:
A week or twoo after posting this originally, Capital One did indeed remove all the lates completely from my credit reports. It now shows as if I never missed a payment on that card. Went from 120+ late to Pays as Agreed!
Way to go, Capital One!