From noncompact to compact: You must apply for licensure by endorsement in the new state of residency. Your individual state license issued by the noncompact state is not affected and will remain active if you maintain licensure and if so provided by the laws of the nonparty state.
It will remain on your credit report for seven years and 180 days after it was first reported late. Although paying the settlement is unlikely to affect your credit score, it will ensure that you are not sued. A judgment against you is an even worse blemish on your credit report than a collection.
Most items can be listed on your credit report for only seven years. Remember the âSeven Year Itchâ. 1  Charge-offs. 2  Charge-offs are items listed as âuncollectibleâ. 3  The credit report drop-off time is seven years plus 180 days or six months from date of the delinquency, not from the date of the charge-off.