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.
A debt collection is one of the worst types of credit report accounts. A collection account shows that you have become seriously delinquent on an account. Your credit score will drop if a collection appears on your report. You may be denied for credit cards and loans in the future, especially if the collection is recent or remains unpaid or both. Debt collection accounts can stay on your credit report for up to seven years. You can lessen the effects of a collection on your credit score by paying it off. As time passes, the collection account will affect your credit less.