If you purchased a single-user license for an edition of QuickBooks, your license entitles you to install the software on a total of two computers, provided that you own both systems. These two installations enable you to work at your office on one system and continue your work at home on another computer.
When collections first show up on your credit report, you can expect your credit scores to drop anywhere from 50 to 100 points depending on how high your credit was to start. In general, the better your credit, the worse the hit will be. Over time, the collection account will affect your credit less and less.
How long do collections stay on your credit report? Collection accounts can remain on your credit report for up to 7 years. Even if you pay it in full, itâs still considered a negative account and will stay on your file as a âpaid collectionâ for 7 years. A collection account is also separate from the original creditorâs charge off account that will more than likely also show up on your credit report. How do collections affect your credit?