Settlement advice needed on old credit card collections

I am getting conflicting advice from several debt counseling companies and websites, and so I am writing to you. I read all the archived posts on your website and admire your common-sensical and practical approach to debt reduction / credit enhancement.
I have accumulated about $32,000 in charged off credit card debt. Recently, I paid off 2 cards in full (original creditors) and still have $26,000 debt left.
The rest of the cards are with collection agencies and they are offering settlements. My confusion is whether I should opt for the settlement or pay the debt in full. If I pay in full, it will be reported as 'paid in full' on the credit report but the 'charge off' notation will still remain. If I settle, it will be reported as "Settled", but the 'charge off' notation will still remain.
My other problem is that if I opt for a settlement, they want me to settle in 3 monthly payments, which I cannot afford.
My question is, should I settle and save some money or pay in full and get a better score on my credit report - which will hopefully help me when I buy a car or a home.
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there is really no difference on your credit report between settled and paid in full if the charge off notation still shows
which it probably will.
most collection companies pay .30 to .40 on a dollar for the right to try and collect anyways
unless they are in house collection companies and the collection is less than 1 year old. if i could setle I would. the reason they offer 3 payments is because once they offer a settlement or payment plan an you take them up on it. They cannot take you to court over what might remain if you fail to pay in full.