What’s best to help credit score? Settle or ignore

This might be lengthy but bear with me. I apologize in advance.

My credit score is garbage (533)

I went through a bankruptcy after a horrible divorce in 2018.

I few months later I was able to get an auto loan as I was left with nothing I needed a car to get to work and get the kids to appointments and deal with life in general. What I thought was a beautiful car turned out to be a complete lemon, the car ended up having so many computer issues, sometimes it would leave me stranded, I called the lender to see what my options were? As I couldn’t pay for the loan and try and get yet again another way to work! ( my life is like one bad decision after another I know trust me ) they weren’t much help with different payment options, at one point I begged them to just repossess it. They sent someone to check the car out, they refused the repossession and signed the lien to the car over to me. My interest rate was so high I was sinking once again ( only this time it was my poor choices) so I stopped paying on the loan ( I know it’s a train wreck of bad choices at this point) fast forward 4ish years of no payments ( the account is charged off but still reporting on my credit monthly) so my question is seeing my credit is low but I do have some good credit reporting, should I try to do a settle and pay to delete with the creditor that bought the account? It is my oldest account opened so it would also be cutting my credit history down. However I do have a builder credit card in good standings. Also a personal loan with my bank that is in good standings reporting as well. So if I do settle it I take the risk of tanking further but I do have some ways to build back? This is hindering me still from a choice I made out of desperation. I am not able to pay the full amount as I’m not trying to live above my means by even a dollar. But I do have some wiggle room to pay at least some of the debt. What’s your thoughts?

I have had people tell me to just leave it and let it fall off, some say to settle it, I am really trying to help my credit the most without going above my means money wise.