If you have the time and the energy accurate information can be removed by disputing it. What I have actually done is to examine my credit report carefully and even my paid collection account for actual dates paid.
A lot of time the creditor will report that you paid in off in say May, when actually you might have paid in two months prior in March. Well this is grounds for dispute and 9 times out of 10 they will not respond to your dispute because the account is paid 0 balance. the theory, why waste the expense and after the 30 day period the bureaus will remove it.
I have done this multiple time and each time have had at least two or three deletions. this persistance and time will help to clean the credit a lot quicker than just waiting the two years for the stuff to get hidden in other good credit. I would say try it at least once before you settle.