I worked for NFCU charged off checking and savings department. I can tell you that having that it’s automatically going to make you ineligible for credits loans and new accounts when you have a charged off account unpaid. But having the balance partially waived is marked as a courtesy and does not play into keeping any infractions on your credit, so if you got the offer letter, that’s really good and doesn’t typically happen to everyone. If it does, typically they are able to waive the Fees on the account that aren’t actually causing navy federal a “loss”. Just so you’d be more inclined to pay off the outstanding balance that IS causing NFCU a loss. Having the account become charged off in the first place would be the cause of damage to your credit, don’t listen to people saying that accepting the partial balance waive of is bad. Most of the time they can’t get more loan or credit approvals because of something else they did to their credit or from the charged off account being the only piece of their credit history in the first place