Hi OP and welcome to MyFICO
As soon as you can, whether it’s a
call or an email to your LO, let him know ASAP. The one thing LOs hate are surprises. Dont do anything about this collection until you speak to him and follow his advice to the letter.
This is actually not that uncommon. Your LO should have told you from day 1, that you needed to resolve (which I recommend as it will not lower your scores) or remove all disputes in order to avoid your loan being downgraded to a Manually Underwritten loan. I just had one like yours, this last month. A new collection would not in itself be a deal killer, but since your LO is doing a correction/rapid rescore, that new collection will show and drop your score. Worst case, if you scores plummet, if I were your LO, I would take the downgrade and move forward without the disputes being removed and use the first credit report. There are options my friend, but the worst thing you can do is NOT tell your LO.
Best wishes to you!