Internet-of-things (IoT), with the vision of billions of connected devices, is bringing a massively heterogeneous character to wireless connectivity in unlicensed bands. The heterogeneity in medium access parameters, transmit power and activity levels among the coexisting networks leads to detrimental cross-technology interference. The stochastic traffic distributions, shaped under CSMA/CA rules, of an interfering network and channel fading makes it challenging to model and analyze the performance of an interfered network. In this paper, to study the temporal interaction between the traffic distributions of two coexisting networks, we develop a renewal-theoretic packet collision model and derive a generic collision-time distribution (CTD) function of an interfered system. The CTD function holds for any busy- and idle-time distributions of the coexisting traffic. As the earlier studies suggest a long-tailed idle-time statistics in real environments, the developed model only requires the Laplace transform of long-tailed distributions to find the CTD. Furthermore, we present a packet error rate (PER) model under the proposed CTD and multipath fading of the interfering signals. Using this model, a computationally efficient PER approximation for interference-limited case is developed to analyze the performance of an interfered link.