Does this hurt my credit score?

[rodeogal]

I have a CRAP1 CO that shows it has been sold to another lender. However, CRAP1 is still reporting this account every month.

I have 2 CA's showing for accounts that they just got a few months ago and they are reporting every month. They are not actively pursuing these accounts as they have just passed the SOL.

Are my scores affected by these monthly updates? If they stopped reporting would my scores eventually increase?

[willingtocope]

If the crap1 account has been sold, then its balance should be $0. Which means it will hurt less and less as time goes by.

The CAs reporting "collection accounts" hurt. They too will hurt less and less as time passes.

[LoveToGod]

I had this problem at one time, and since I did not have the funds, I had to wait it out. Eventually they will stop rereporting, but it can take up to a year.

[Ahntara]

"...reporting every month...scores affected..."

Yes, in a big way. A recent 'date last reported' plus any datafield that indicates default combine to hit your score in the History category. This category, the largest, factors as up to 35% of the total score.