i've got a couple of collection accounts on my credit that are really killing my credit. i've been doing a lot of research and everything i've read says that if you pay it off, it will still be on your credit but that it helps your credit rating. so i've been planning on paying off a bunch of stuff but then i got an arguement with someone who said that was a waste of money. he was saying the stuff falls off in 7 years and that it doesn't really help even if it is paid off because it is still on your credit. PLEASE help. what is the best thing to do?