I actually asked that question in the morning when Alliance One called me to offer me the settlement. The lady was saying it will appear as "Settled in full" and "there will be no further obligations". I asked if she means paid in full, she confirmed it would be 'settled' in full. Which I guess means that I paid the full settlement that was offered to me, rather than pay the original balance in full. That's how I took it. She clearly kept using "settled" in full though.
It also appears as if they don't do any negotiations. She told me Alliance One can't do anything about how a payment shows up on the credit report, she said it's up to Cap1.
I get the feeling I will get the dreaded "we must report accurately". But you're right, I should call and ask, maybe I don't get a robotic account manager, maybe i'll get a human account manager.
Since I paid my charged off First Premier and Comenity Bank (Eddie Bauer) cards in full a while ago, I want to ask the original creditors to take them off my report. I found First Premier's email, but I can't find Comenity Bank's email. Anyone know it?
First Premier is adamant about not removing accurate reporting. You will likely have zero success in Goodwilling them. They have a publically published policy: www.premierperspectives.com/goodwill-letter-requests/ -- So don't be surprised when you receive the standard "We are reporting accurately" response from Julie. Not saying you shouldn't try though - you never know!
Generally, FP will only remove if you can prove incorrect reporting on their part -- so if you can find some inconsistencies in the way the account is reporting across the three bureaus (DOFD, or payment history maybe), you can try to pursuade them on that basis - I've seen where others have had great success getting them to delete based on inaccurate reporting.
As for Comenity, I don't have any info on them -- but you should start a new post for better visibility so other folks to chime in - I'm sure someone has contact info.
tmr, I got a response from FP fairly quickly. I sent them an email this morning and got a response this same morning from "Office of the President", the email is actually not replyable, because I replied with a thank you email and it gave me an error "undeliverable message". The email said my account will be reviewed and I will get a response in 10-15 days. I'll keep my fingers crossed that the response is good news but now that you say that I guess i'll brace myself for bad news. If I can remove one charged off account that was PIF and won't drop until like 5 years from now, i'll be so relieved.
Btw I paid $600 of the $999 I owe to Cap1, I also opted out of the settlement. I want to PIF. I will pay the rest by the end of March, so I should be revolving-debt-free soon and hopefully I can climb out of the 500s fico score.