<human>: I had a minor hospital visit during my college years and couldn't pay for it (cause you know, being a college student in the US) so an $800 bill was sent to collection in July 2010. I did not pay for it even when they sent me a discounted offer a year later so my credit score was in the dumps for couple of years after that. Fast forward 5 years, my financial situation has gotten a lot better and I've been building my credit slowly but surely. Last week I applied for a credit card and it showed that my credit score is 755, which I think is quite decent especially given my history. And today, I got a mail from a collection agency regarding of said medical bill (coincidence?) with a discounted offer of $250 to settle it once and for all. So here are the 2 options I've thought of: 

Option A) Take the discounted offer (I do have $250 now and I can live without it) and pay for it. If I go with this route, how should I go about it? I've heard of "pay for delete" so do I just call up the agency and tell them I will pay for it as long as they do "pay for delete"? and if they don't do "pay for delete" even when I pay the debt, could this effect my credit score in a negative way?

or 

Option B) I've read that debts fall off of your credit after 7 years and I am nearing that fairly soon (Service date was July 2010 so 7 years is 1.5 years from now). Especially since my credit score is pretty decent now I don't see the point of paying it off when it'll be gone from my credit report within a year and half. If I take this option, are there any consequences? Because if there are, I would rather just go with option A and have the peace of mind.

Thank you all in advance.

Condense the text into a few key points
<bot>: $800 debt nearing 7 years soon, credit score 755 now, should I still try to get rid of the debt?