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I had a CA report a debt from 2007 as opened in 2010 because it was bought from a past creditor. I called & ask if I settle to pay this will they delete it from my credit report they stated they can not do this. The only thing they can do is report it as paid. This is for a utility & hurt my credit since it shows as open in 12/2010, because a month ago my credit score was 50points higher. I need a fast solution as I was applying for a loan for a house & my credit went down in a month due to this.
I guess this is gonna come in your report as 'paid as settled'. They are not agreeing to a payment for deletion. If they're not allowing you to go for a self-repayment plan, you may sign up with a debt consolidation service.
You must start repaying or enroll with a debt relief service. If you don't do it your points might drop even more.