Just an update - Went to Chase today to pay off the debt owed. The lady told me it was only $340 (not $380) and that she would call the collection agency for me. The collection agency told her the amount was $212 and change. SWEET! Felt good to pay it off! I sent a money order through chase to the collection agency and I am supposed to call and ask them to send me a receipt in the next few days. I do have a receipt of the money order, so if they try anything, I'm covered.
Thankfully this was never reported on my reports and only on Chexsystems which will now show a zero balance according to the bank and the collection agency. 
Thanks for the help!
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