Please let us know how this works out for you. I have been sent settlement offers from 3 different agencies that HSBC uses, including Redline. I am in the exact same situation you are in, right down to the timeframe that my card CHO. I am willing to PIF and would even open the card again but it is in CHO status. Can they reopen a CHO credit card?
I've been lurking here for almost six months and managed to gain 100 points so far. Hopefully, I'll have a house in a year. 
@Anonymous wrote:Please let us know how this works out for you. I have been sent settlement offers from 3 different agencies that HSBC uses, including Redline. I am in the exact same situation you are in, right down to the timeframe that my card CHO. I am willing to PIF and would even open the card again but it is in CHO status. Can they reopen a CHO credit card?
I've been lurking here for almost six months and managed to gain 100 points so far. Hopefully, I'll have a house in a year.
Hey taratine...saw that mention of the 100 pt increase... SWEET!!!! 
Keep up the good work & let us know if we can help out in any way!!
Mo
I need HSBC address/email too, please!! Pretty please?
Man, this credit repair is a full time job!! On the plus side, this has been a learning experience for my daughter. I keep pulling her in my office showing her all the things I have to do and saying, you never EVER, EVER, EVER are going to mess up your credit. You hear me??!