Credit Card Settlement Before and After Charge off

[Anonymous]

Hello, I am 3 days before my credit card company is scheduled to charge off my credit card balance. They have offered me a 30% settlement, which i do have the money for. But my question is,  is it more advantageous to wait for a lower settlment offer after they charge it off and goes into collection or should i settle with them before that happens? Secondly, is my  "damage score" greater if i settle before or after the charge-off? please help, thank you. 

[guiness56]

If you let it get CO'd, which is a major derogatory, your score will take a big hit.

Settling before they CO and it will only show settled.  FICO sees paid and settled the same, as paid.  On a manual review they would see it is settled.

If you pay first, make sure you get it in writing that they will not CO your account.  I've seen posters pay before the CO and they still showed it as a CO.  It is not legal.