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ConcernedMember

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Credit score dropped 39 points need advice
So to start off I do not have the best credit. Actually, I have very poor credit which I have recently started working on to fix. I opened an auto loan in 2010 and stopped paying on it in 2013. It has been on my credit report ever since, but recently I noticed a change within the past few days. It went from open/collections to closed - transferred/sold. A new account popped up with the same information except a different creditor that I have no idea whom they are and I haven't been contacted or anything. That new account dropped my credit score by 39 points. Is this normal to have dings by 2 separate companies for the same thing or is this an disputable item. I am all new to this credit thing and I am actively working to repair mines. Any advice or comments will be very helpful

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It is normal to have one account that is negative from the original lender plus one more negative account from the debt collector trying to collect the debt. If you have the original account plus two different collection accounts, then that is not legal and you should dispute the earliest collection account as there can only be one collection account reporting for each negative original account (with the original lender).

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ConcernedMember

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Okay. Thank you for the reply. Its just the original and the new one. Just was wondering because both of them have a negative effect

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