You seem to be aware of the way that your EX report is different from your EQ/TU. So you should consider whether you'd have the financial resources to pay off the collection. If you do, you want to negotiate a Pay For Delete arrangement, rather than simply paying it.
There are lots of resources on the web and on the Forums that explain what a PFD is and how to go about doing it.
Before you d any of that, I would pull all three of your reports and scores if you have not done that in the last 30 days. You want an easy to read 3-bureau report that will enable you to see how the three reports are different. The $1 trial offer at Credit Check Total is a cheap way to get that.