Can I settle a $7000 old tuition bill?

I have a old tuition bill with a collection agency that is $7000 with NCO Financial, they have added on $2000 in late fees and interest charges. I wanted to know, would it be possible for me to settle this debt with them, how willing would they be to work with me? What percentage should I offer them? Also, the debt has not been placed on my credit report yet, will paying or settling this debt prevent them from placing it on my credit report? Any advice would be helpful, I am working so hard to repair my credit.