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.
Your creditor must respond within 30 days of your notification or the collection account will be completely removed from your credit history. It is important to do away with collection accounts on your credit report, because they have a direct impact on your credibility as a debtor.