No. If the debt is paid but shows up as severely delinquent, this will still show as a severely negative item on your credit report. You have to realize that a credit report is a history over several years regarding your financial transactions and credit history. So, any past collection, delinquency, negative activity, charge-offs, all do a great bit of damage to your credit score even though you might have paid the item. In some cases, paying the item might actually make your credit score worse. Unfortunately, this is the reality of your current credit situation and our credit reporting system.
The only thing you can do at this point is to hire a credit monitoring service and a credit restoration company to challenge and dispute items that are negative which are on your credit report.