I think my last answer to someone is your best bet…sorry for the confusion.

This will list all the firms/debt collectors you owe money to.

When credit cards are charged-off, the damage to your credit is basically done and there is no undoing it. Don’t make the mistake of simply cutting a check to whatever collection agency has the debt for the charge-off and assume that your credit rating will be magically restored…Doing so will not remove it from your credit reports. It will simply be updated to a “Paid Charge-Off,” which, while slightly better, is still a seriously derogatory item. Per the Fair Credit Reporting Act, a charge-off, whether paid or not, can remain on a consumer’s credit reports for up to seven years.

Renewing contact with debt collectors who have not been in touch with you for a while can be tricky…so be careful. You might trigger really aggressive collection activity against yourself if they find out you have money to pay. Making recent payments on old charged-off debt resets the statute of limitations on the debt in many states…which would enable the debt collector to immediately sue you for the debt. In my opinion, this potential risk is the not worth a slight increase in your credit score from paying off old charged-off debt.

If you’re going to pay off old-charged-off debt anyway, then you might as well negotiate the lowest, rock bottom settlement you can possibly get, being that the negative charge-off notation is going to stay for 7 years on your credit report anyway. You have to be VERY careful in this effort…Mail them a vaguely worded statement like:

I am willing to settle this matter for 25% of the original amount. This is in no way an admission of this debt, but rather an attempt to settle this matter. Your firm must send me a written agreement on your company’s letterhead that you will accept this amount as “payment in full” and that is issue will be settled. Upon receipt of this agreement, I will mail you a money order for this amount.
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* Get all terms of any settlement deal you reach with debt collectors IN WRITING BEFORE you give them your money. Never accept settlement deals over the phone…The debt collectors will deny that any settlement was ever made once they get your “settlement” money and will come back demanding more money.
* NEVER, EVER give out your checking account numbers to debt collectors for making electronic debit payments.
* DO NOT sign your signature on any document that you mail to a debt collector. It could end up on a forged document that can be used against you. Simply type your full name.