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.
Rating Newest Oldest. Best Answer: It will drop off, 7 years from the date it hit collections. It will still show up on your credit report, until that date. The only difference is it should show a $0 balance, and a status of paid in full. You need to check your credit reports to make sure it shows as paid.