Congrats on getting started. I wish I had started 3 years ago (I am 26). To begin, paying the collections and having them report as PAID will NOT helpbyour score. Only if you can negotiate a Pay for Deletion will this benefit you. You will pay a premium for that deletion so expect 65% or more. Most damaging to your score is that Chargeoff if still being reported as being owned by Citi. If you enter into an installment agreement to repay it, it MAY extend the SOL. I would try to save some cash and get that settled in full. They likely wont do a PFD, especially for less than the full balance. I would settle it and goodwill the heck out of it. Find out if that collection agency owns it, or if they are collecting on behalf of Citi. Good luck!