I currently owe about 12000 an about 3 cards. I have the money to pay them off and I am wondering if paying them down to zero over a period of 7 or 8 months would improve my credit score more than paying them in one lump sum?
That's an important question. If the debt has been charged off, paying it doesn't help much. It only becomes a paid charge off, which is still a negative on your report. If it hasn't been charged off, getting current is the most important thing. You probably should pay them off, then use each one for small things every month and pay the balance. For sure, you need to get your utilization down. What are the credit limits and balances?
