Should I pay a settlement collection that is not reported on my credit report

Quoting "REAL PERSON"

You have a great website with great information regarding credit reports.

My question to you is: I have a repo that is reflected on my 3 credit reports. I have contacted the collection agency who is handling the account and have gotten a settlement amount in which I intend to pay. I first tried to contact the original creditor itself, as you suggest on your website, but they have advised me that they cannot handle the account due to a contract with the collection agency. My credit reports show that I owe GEAuto, the originating creditor, and not the collection company. How will this change my credit score when I do pay the amount off since it is not showing as a collection but it does show as a "Voluntarily surrendered/Never Late/Past Due 855?" Is it even worth paying the settlement amount to the collection agency or should I just wait the 2 more years for it to come off my reports which will be the 7 year timeline? My fiance and I are trying to obtain a construction loan to start building a house so that is why I need my score to go up.

Thanks
REAL PERSON
Subject: Re: CREDIT REPORT, NEED HELP
If we do not pay the collection company they will put it on your account in addition to the other charge off or whatever. So I would say pay them fast and ask that they not report it at all if you pay them. they should do that.

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