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katiedugan

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credit score dropped 115 points in 1 week
I was in a car accident, so I didn't pay may car payment for one month b/c it was totaled and the insurance company was in the process of paying it off. that has been the only change made to my report. so now I'm going to apply for a new car loan and I get a email saying my score has dropped from 645 to 528???

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Are you saying that you got a late/missed payment or 30 day late due to not paying? If so, that would explain the drop. If you did get some type of negative remark on your reports due to this I would contact the creditor and try to get them to understand that it was not an error on your part but an error by your insurance company and plead with them to remove the negative mark. If no negative mark was placed on your reports then I cannot say what would cause that type of drop, but I would suggest that you start following your FICO scores as a version of FICO will most likely be used by the auto lender. If your auto insurance company is at fault for this missed payment, then I would contact a lawyer and consider suing the auto insurance company as they have caused damages to your credit reports which in turn will cause actual damages which will occur when you are either denied for a new auto loan or have a higher rate due to the negative mark. As said, first contact the lender and try to get them to remove the bad mark.

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Why the drop

I got approved for 1500 worth of credit and my score dropped 115 points from 617 to 505 why

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