Quick help needed with Charge off!

[Gladd06]

So, my fiance had an old 1st Financial Bank (1fbusa) credit card which was charged off in 2009 (althought TU shows account being closed in 2007).. anyways the details from EQ are below.   A few weeks back she recieved a letter asking to set up a payment plan to settle the debt for a lower amount (the offer expires today at 4:30pm..  My question is, what is the best course of action here??  Do not have the money to PIF right now.  Would setting up payment plan ultimately hurt her credit score?  Is it possible to try a PFD?  Should she just set up the payments and pray for GW later?

Account Details:

Status as of :  Jun, 2010
Date opened :  Oct, 2005
Date of last activity :  Feb, 2009		Balance
Scheduled payment amount :  80
Current Status	Past Due Amount
Date closed :  Not Reported		$                     3,025.00	Bad debt/collection	$         1,269.00
Account number :  Not Reported		Seven year payment history
Loan type :  Not Reported		30 days late	2 times (Feb 2009)
Largest past balance :  3063		60 days late	2 times (Mar 2009)
Terms :  Not Reported		90+ days late	6 times (Jul 2009, Jun 2009, May 2009, Apr 2009)
Account Type :  Revolving
Account holder :  Individual

[Anonymous]

Who did she receive the letter from a CA or the OC?

I would contact the OC and ask them if she makes payments, if they would reinstate the account removing all negative information and report it as pays as agreed.  If she can PFD, ask them the same thing.

I am sure it is still within the state suing SOL and the balance might lead to them suing her.  If they won't agree to either, at least paying it will have some impact for the good on her score and keep her from getting sued.