Anyone,

I have just checked out my credit report and score via the AAA website and now am finding out about a past Collection Agency bill. 3 years ago as of march 2009 I had an accident while snowboard which required an airlift and hospital stay. The result was ~$2400 after insurance. I was a student at the time (march 2006) and am now graduating. I was sent many notices via email that asked for me to pay, it went to a collection agency and is now ~$4500. I ignored all attempts of contact and have since moved to a different location. my current credit score is 669 and although not terrible it is not good. I was wondering if there is an easy way to get rid of such negative account. I am willing to pay a lumped sum close to $1000 if I can have this completely erased. I am fairly new and have done a lot of reading in maybe getting this taken care of. So either I wait the 4 more years to allow the required 7 years in order to legally get rid of it or do it now. Please provide any information you think is helpful.

All other accounts ( a 5 year credit card) has never been paid late and always paid in full.

What do I do?