A year ago, I was summoned to a hearing regarding a charged off credit card but failed to appear. Last month, the law firm sent me a communication offering the chance to settle the debt. The outstanding debt is $1,432.58 and the settlement offer is $960.00, which has to be paid within 30 days.

With that said, I would like to know if I should take the settlement offer and have the judgement listed as "Settled in Full" on my credit report or if I should just tough it out and pay the $50.00/month offer to completely pay-off the debt.

By the way, if I settle do I need to send the Satisfaction of Payment form along with my check? What is my guarantee that they will sign and send it back and not just ignore and cash my check?