Dealing with BofA

I closed down a business more than 4 years ago, in a relative hurry, due to some shenanigans of a partner (prospective partner) and his dealings with my landlord (he got us thrown out).

My bank statements went to the business address, which, went away (PO Box) just after. In the confusion of that and moving (we moved a few months later) somehow my BofA account was hugely overdrawn (no idea how, I'll try to get the paperwork), and nobody has contacted me about it.

I found it on my credit report (honestly, i have never pulled a report on myself until just recently. Trying to get back on my feet and on with my life after a BK and other bad issues), and verified that I really do owe them about $500.

I'd like to settle this for less, if possible. It's been years, and I live in the local area to the branch, my CR has my current addy on it and one of my kids has a savings account there!!!

They obviously didn't make much effort to collect this. How do I go about offering? I'll pay the full amount if I have to.

Can I then dispute this with the CRA after it is paid directly? The CA hasn't done a thing, and presumeably won't, and they are the ones who put on the entry.

After it is paid, do I just claim it is wrong or what?