Navy blue and brown is a classic, and a blue suit and brown shoes, or navy suit and brown shoes, combination gives a light, summer-friendly look, but burgundy, tan and black shoes with a navy blue suit will work as well. Itâs just a matter of what style you prefer.
In general, a collection account will remain on your credit report for up to seven years plus 180 days from the date the account first became past due. The countdown to the account falling off your credit report begins 180 days after the start of the delinquency that led to the collection. For current residents of the state of New York, paid collections will remain on your credit file for only five years.
Video: Average Collection Period: Formula & Analysis. In this lesson, you'll learn the purpose of calculating the average collection period and the two-step process. We'll also discuss which financial statements are needed to find the data and the importance of comparing the average collection period to the credit policy.