Will it still show as a charge off on your credit score even if you did settle with the car company through a collections agency. In 2008 my ex-husbands car was repossessed. I was the co-signer so they came after me. After the car was auctioned off we still owed 13,215. The car company was willing to settle for 3,500.00. We paid that amount. Now on my credit history it still shows this account as owning 9,715 and a charge off? Is this wrong? Shouldn't it show something like 'settle for less then owed', with a 0 balance?