charge off settled for less than full balance

You can try to negotiate a "pay for delete," in which case your settlement agreement would stipulate that they remove their tradeline upon receipt of your payment. Whether they agree or not depends on their overall collection policy, philosophy and ability.

If they just "want to get paid", and don't want to hold out to risk not getting paid, then they might just agree to remove the tradeline.

If they are prepared to follow through with a lawsuit if you don't pay, then they might refuse to remove their tradeline.

At my company, our general policy is not to agree to any pay-for-delete unless it's being paid in full. We will offer and accept settlements, but then we won't delete and rather report as "settled/less than full balance." The underlying philosophy there being that if a person cares enough about their credit to want us off their report, then they're probably willing to pay it in full if that's what we demand.

If they ultimately refuse to delete, then whether you follow through with the settlement really is up to you. You will have to weigh the pros and cons of not settling:

Cons of not settling:
1) They might sue you if you don't pay (you will pay more in the long run).
2) An unpaid chargeoff hurts your credit a lot more than a paid/settled chargeoff (and when applying for credit, a lot of lenders are willing to "overlook" paid/settled chargeoffs because it shows you at least made the effort to make good on your obligations).
3) They might sell your account to another JDB, who might sue you, and might not settle for as much as the original creditor.
4) If they sell the account to a JDB, then you might have two entries on your credit report: the original creditor reporting a chargeoff, and the JDB reporting a collection.
5) If they, or a JDB does sue you, then you will possibly have a judgment on your credit report, which is even worse than a chargeoff.

Pros to not settling:
1) They might settle for even less as time goes on.
2) They might sell it to a JDB who settles for less as time goes on.

A settlement is really no different than a paid when it comes to a collection account. They are both still negative.

This debt is still with original creditor. I could not pay the settled amt in one payment and had it divided into 2 payments. I guess I will just leave it as is. I just needed some input as to if I should be doing something else to help with my credit report.