How does this affect my credit score?

Back in 2009, I defaulted on two USAA credit cards. At the time, I negotiated with them and settled for less than the full balance. On my credit report, these accounts' descriptions state "Account paid for less than full balance" and "Charged off account." The recent payment history shows the code "CO" (collection) for every month for the last 24 months and the 90+ days late bucket is populated with every date from the most recent month going back. In other words, they continue to report this as 90+ late every month. Is this accurate? Do I just have to wait another year or so for this to fall off my report? I'm not disputing that I settled for less, but the fact they report every month as 90+ concerns me (even though it also shows a zero balance). Very interested in your thoughts or any advice you have. Thank you! 

I believe they should be properly marking it as CO from the point of CO, but I am not 100% certain.  Even at that, I'm not sure it affects your score any different once the initial CO is seen.  You should get a more knowledgable response here shortly, but curious myself.

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