Hi All,
I have about 4 active credit cards all at 90+% maxed ($2000, 800, 300, 280) and 8 older charge offs for about $4700. The current balances aren't really indicative of my new credit habits. I pay very regularly and on time and did have most of them below 50% until last month. Ideally, I want to get my credit history healed enough that I could get 1 credit card to consolidate old debt (balance transfers) on a clean slate and rebuild that way. I would use PFDs and GWs like crazy at that point. BUT my credit's not good enough to get a card that's large enough to take care of all of them.
In the meantime, I worked a temporary second job to earn more to pay it off, but I'm not sure what would be the better move for my credit report and goal of getting the best credit score and report possible. Is it better for my credit score/report to pay down cards with good history/open credit or pay off old, charged off debt? Keep in mind that I only have about $1000 which won't pay any of it all off, just a portion of either (or both?).
Thanks!
Starting Score: 464 October 2012
All the debt mentioned is credit cards. Better to let the sleeping dogs lie, so to speak? My goal WAS to use the open balances to move old debt to the new cards, but my main problem CA, Portfolio Associates, won't take credit or even balance transfers. 
How old are your charge offs? Any of them past the SOL at this time. Have you tried any pay for deletes with any of the companies that you currently have charge off with?
They are all within SOL, unfortunately. It's only in the past 3 years that I've gotten on the ball with credit (barely, but still 
) Traveler, I have not tried PFD with anything yet, because I never had the cash/money until now.
what companies are the charge offs with? There are some companies that will pfd and then some that wont' better to try with the ones that will first. Remember YMMV
They're mostly CAs now. And BAD ones, too. Portfolio Recovery Associates, Carson Smithfield, etc. According to the forum, I've acquired quite the "collection" of worst possible CAs to have. (sorry for the pun!) Don't see much success in PFD with those. GWs maybe.
Yes definately GW after payment. Knowing this, I agree that you need to get your current balances down to 1 card reporting <9%, over time, and then attack the CO's one at a time. It will help in future with the charge offs showing that they have been paid. Even though when paid they won't raise your score, when a new company does a manual review they will see that you have shown good faith and paid them off.
All the CAs own the debts.