Yeah, balance chasing sucks. However, many ccc's are really chasing to cover their posterior backsides from additional losses.
How much cc debt do you have? How many cards? How many derogs and how recent? What are your FICO scores?
Here are some resources to get an idea of results: FICO Estimator / Simulator and Financial Calculators:
http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=60929
Generally the "snowballing" system is a good one. Start by paying off the lowest balances first. Once they are paid, take the amounts you were paying on them and begin paying down the next lowest balance card. However, if you have some cards that have substantially higher APRS's, you may want to pay first on those to avoid so much interest being paid.
By paying off low balance cards, you reduce the number of accounts with a balance AND reduce utilization. This will give you the most FICO improvement. But, if you have lates, CO's, etc. then you are going to get less help than if you didn't.
DON'T only pay off debt to improve FICO. Pay off debt to get out of debt, to reduce interest payments and to get control of your life. Make good financial decisions for now. FICO will come around....it will follow, even if it takes time.
Don't worry so much on the CL's. Many people are getting CLD when they have NO derogs or credit score drops, so with you having them, you can expect to get hit some more. That's just going to be the nature of the process for now.
HAVE A GARAGE SALE, craigslist and ebay sale. We all accumulate "stuff" that we forget about, don't need, don't use, don't want, can live without, is a luxury, stored in the attic/closet/under bed/garage or worse yet in a paid storage unit. Raise some cash (sometimes hundreds or even thousands from this) and do two things:
1. Make sure you have some emergency cash reserves
2. PAY PAY PAY down debt.
MAKE SURE you have a written budget. Know what money you have coming in and where it is going. KILL all non-essential spending for the time being. Tighten the belt down, batten down the hatches. No eating out, movies, etc. Get a hobby that doesn't cost....or better yet that can make money. Start an exercise program. These help keep you motivated. Set goals....short, mid and long term. Read them and visualized succeeding....feel the power of accomplishment NOW to motivate you to stay on course.
Get part-time second jobs temporarily, if possible. The extra cash for the next few months to a year will really go a long way toward paying down debt and reducing interest. Plus, the faster you pay down debt, the less CLD/AA you might end up incurring.
You will get there....it takes time.....it will be a bumpy ride. But once you get out of debt, you get your life back. Eventually credit and FICO will be repaired (you can include credit repair basics during the debt reduction too).
Good luck and keep the faith! 