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.
The record of your SBA loan, charge-off and all, will fall off your credit report seven years from the date it became delinquent and subsequently was charged off. So, it will be removed from your credit report in 2015.y business went bankrupt in 2008, resulting in a charge-off on an SBA loan. Since the SBA loan is also in my personal name, that charge-off is on my credit report.