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Sex Toy King,
Anal Hobbit is right. I remember when I was in College I settled on a card. The card company has the ability to report what ever they like. Even if you dont get them to agree to start reporting the paid off debt in good light, the majority of the time a few months after you settle you protest or have the credit reporting agency look into the issue the credit card company does not report back.
They consider the issue done and really dont want to get back into it with you. As a result the Credit reporting agency drops it. The Credit Card Comany has 30 days to write back and verify the reporting. If they dont its dropped. Most comanies once you pay them arent going to report back. Especially if you have it in writing that they agreed to report you as "paid as agreed" and "not report you late"
One real issue with this however is that you still will have to pay. In the form of taxes! The forgiven debt is considered income. So if they waived 20k debt, you have to pay the tax on it to the IRS..
And trust me the IRS isnt going to roll over and let you fuck them.
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