I am in a lot of debt. What will happen if I pay my secured debt (a loan for $ 650) and one of my credit cards off completely? The credit card has a balance of $ 1,200. I still have at least 12 other accounts on my credit report that have been turned into collections or charged off. I am looking to slowly turn my credit around and get these paid off, but I would like to know if paying off a credit card will dramatically improve my credit score?