So, you get charge offs and finally have a collection agency that has been assigned by the original creditor that will settle the debt for pennies on the dollar. But to settle the debt you want to get the original creditor to remove the charge-off in exchange for payment.
Problem is getting to the correct person who has such authority in a large institution, they usually will put you over in customer service where they tell you that they cannot remove the charge off because it is a requirement of the credit bureaus that they report the charge off.
However reading here and elsewhere, it appears that lenders do in fact remove charge offs and they have the ability to do so. If I do not get a charge off removed now, I think I will have little chance of getting it done if I settle the loan.