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.
So, paying off collections could very well improve your credit-worthiness in the eyes of a lender. Since your collections are 2 and 3 years old, your FICO score will consider them for several more years â typically, collections remain on your credit report for 7 years. The best things you can do in the mean time are to continually pay all your bills on time and be responsible for your credit.