If the charge off and collections are recent and the cc is125% utl.Then I wouldn't expect too many changes either way.If you could pay down the cc utl to 6%, that would be the most Fico score improvement,but that was sent to collections.The damage was already done to your credit score, because you probably have 30 days-180 days late om the cc prior to being charged off.One collection being removed will have little effect on your credit score positivly, becauce the lates and charge off are still present on cr.If you settle the collection and it is removed from your credit report it's a step in the right direction, because it's one less serious derogatory.As these derogatories age they will have less effect on your credit score,but you have to start showing positive behaviour.So if you have no open cc's try for a secured cc that reports to all three credit bureaus,Start with monthly on time payments to counter the all the derogatories. GOOD LUCK.
