thatwaseasy

I have a charge-off on my credit report. The line of credit was taken out when I was 18 y/o, is through CapitalOne and the balance is approx. $1700. I'm almost 25 y/o now. What should I expect if I make one of the following decisions: a) to pay off the amount I owe, b) wait the remainder of the time it takes for the mark reach the 7 year expiration limit. I understand I am obligated to pay my debt, but assuming, for the sake of the most practical and quasi-financially-moral of us out there, what happens if I let it expire? Bonus question: does the deliquent (negative) report remain on the account 7 years after opening the line or credit or 7 years after it is first reported as deliquent? Thanks.