Rather than have me type a book here, I offer a free initial consultation and I can assist you with this, so call me for an appointment.
As of the time I provided my answer to your question(s) today, I am NOT your lawyer and you are NOT my client. Therefore, there is NO ATTORNEY-CLIENT RELATIONSHIP between us. Accordingly, you should NOT construe my response to your question(s) as legal advice. Rather, you should look upon my answer as a "starting point" for you begin discussions with a lawyer of your choosing. I am always receptive to new clients, but there are many, many lawyers who will meet with you and give you expert, personal legal advice. My answers in this forum are NOT expert legal advice, but merely general commentary after reading the very, very brief facts which you provided to this forum. I truly wish you all the best!
Creditors are required to report truthful and accurate information regarding your history with them. Even if you "settle" an account, and your balance is updated to reflect that it is now "zero" the creditor must still report your past due history on the account truthfully. Your credit should improve with the settlement, but there is not likely a legitimate reason to have the entire tradeline removed/deleted if it is accurate.
I agree with my colleague. If it's accurate, it may remain for a specified period of time. Here's a link regarding how long the information may remain: http://www.ohioconsumerhelp.com/sub/obsolete-CRA-info.jsp;jsessionid=766EFA16A98E48FB1C528B109112F98F
NOTE: This Answer does not constitute legal advice. Every case is fact specific. To render a legal opinion, an attorney must engage in a consultation with a prospective client and review any pertinent documents. This communication does not create an attorney-client relationship with Attorney Amy L. Wells or WELLS LAW OFFICE, INC.