yes, but you have to agree and then make sure the state agrees if they paid support on your behalf. Good luck.
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As long as the state has not been paying you any benefits, you can generally stipulate to satisfaction of child support arrearages. However, if the state has been making payments for which it is entitled to reimbursement, they will also have to join the stipulation before the court will enter an order eliminating any child support arrears and interest.
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You can settle the arrears, but the Mother will have to agree. Typically it is not in the best interests of the child to agree to a settlement, because they are entitled to the support and the arrears can never be discharged or forgiven.
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