Would appreciate some opinions on how best to proceed with clearing up CC balances

[ohjk]

that wouldnt be much of a concern to me.  i have enough coming to me to pay my outstanding cc debt to 0.0% if need be and honestly could care less if some of the limits go down.  dont plan on using cc cards whatsoever have this is cleared up.

[Dw4250]

Involver brings up a very good point about possible AA (adverse action) by your card companies.  It probably depends on how long your cards have been maxed out.  If they've been maxed only for a month or two, or due to a large purchase that is paid quickly, probably no biggie.  But if has been months/years, this is a definite possibility.  Hopefully this does not happen, but you should at least factor it into your plans.

I think it's great that you are in a position you clear up your CC debt.  You will be much better off for it in the long run, as I'm sure you are paying a ton in interest.  

If you absolutely have to have a car in the next week and have $20,000+ available, this would be my suggestion: Buy a decent used car for $4-5K cash  Use the rest to pay down your CC's.  With your salary, you should be able to pay off the rest of the CC debt shortly, and save up for a new car within 6 months or so.

My $0.02

[bada_bing]

If you do decide to finance a car loan in the next couple months, pay attention

to how many HP inquiries they want to put on you. The last thing you need while

you are under increased scrutiny by credit card lenders is 6-8 HP inquiries by some

overachiever car salesman.