my credit score dropped 95 points overnight : personalfinance

So I need assistance understanding this. I attempted calling TransUnion however they stated they could not clarify my credit score rating to me, so right here I’m on Reddit hoping somebody can clarify to me what on this planet occurred. I pay all my bank cards on time. And I am using 40% of them. I am engaged on bringing that down. I had an installment mortgage that had been charged off and with one other firm in collections. So it has been delinquent on my credit score report for a couple of 12 months at 4600. I just lately settled the debt and so they eliminated it from my report. After they did, it dropped my rating from 660 to 565. I’m freaking out. I did this to assist my rating not make it worse. Is there an error, or did I simply screw myself over by paying my debt? I am attempting to get my rating within the 700s and now that does not appear possible with this massive of a drop, by me doing the best factor and paying my delinquency. I’ve not missed a single fee on any of my bank cards. I’ve made certain I pay on the very least the minimal on my playing cards. So I do not perceive the way it dropped like this. I even paid 3 different playing cards off and that did not assist. I do not know why it brought about this drop, simply because I paid off that delinquent account. Can anybody assist me and clarify to me why this may occur? The one factor on my credit score report is my scholar loans now and my bank cards. I’ve 8 bank cards. And once more my utilization on all of them mixed is 40%