This also a rumour among most of the Americans, but the truth is credit score is mainly depends by your past credit history not the current amount of debt. But it is good things that pay-off your all debts because in future you will be getting an excellent credit score because of your current payments. While you may be currently quickly paying-off your credit card debts, and settling any other outstanding obligations, your previous history of late or missed payments will still reflect on your score. As the credit experts often say, it takes time to repair your credit score. It takes may be years.
