Paying off Credit Cards

I hope I am posting in right area. I have a Gazillion questions. But I will start with this one. I just started looking at my credit report. I have one thing that says its coming off in about a month. It says collection account not charge off or anything. I don't even remember any recent letters for it. But if I were to pay it off would it put a mark on my report saying its paid off then start a whole new 7 year mark or does it keep that date thats there now?

Also where can I just post some background information about what is going on with my debt, etc.?

It will not renew the reporting period as that is illegal. I would think hard before paying as the debt is freaking 7 years old already. You may post general questions relating to a credit report in the credit repair forum.

Well this is where I am getting confused. If these things are coming off my credit report. I should just not pay??? That doesn't seem right! Wouldn't I want to pay it let them put the paid or setlle mark on it and have the whole thing come off in a couple months??
I Have no idea!!!!!

There are various dangers to paying on out of statute debts. Even though the reporting sol cannot be reset,if you settle on a account and don't have a paid in full letter,you could be sued for the full value of the debt as a payment resets the sol for civil action in most states.I agree with paying what you owe,but if it is gonna drop off report I would let it fall off and then think about paying it.

I just recently paid both my credit cards off and then canceled. Doesn't that mean that my score should JUMP sky high?