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Credit Score Dropped 12 points for paying off a car loan????
I filed for Chapter 7 in March of 2012. It was discharged in September 2012. It was a eye opening and stressful experience, and I have taken my spending and credit very seriously since that time. My credit has been meticulous. I have one credit card with a 0-5% utilization ratio, and is always paid on time. I recently paid my car loan off in November of 2013. It was $15,000. It just now showed up on Credit Karma. And it dropped my score by 12 points!! I went months without 1 point of increase or decrease (also frustrating), and now a 12 point drop. Can someone help me understand how ridding myself of $15,000 worth of debt drops my score?

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