need help in determining neg effect on my credit

[illini76]

What is the name of your state?What is the name of your state?illinois

I had a cc debt of 1300 dollars settled for 1000 made last payment on card
in early 2002 then did not make any payments at all cc was charged off and sent to collections. My question is will have to wait 7 half years from when i make my last settlement payment in early next year 2006 or from when 2002
when last payment or cargdeoff of card originally happened before the neg info will fall off my credit report this might make big difference in my future
buy house buy car ect bc my life now is stable.

[Debt Guy]

Negative items may not remain on your credit report longer than 7 1/2 years from the date of first default. The DOFD is almost always 30 days after your last regular payment (after which the debt was never current again.)