paying off old debts on your credit report, help you or not

Would like to know, paying off old debts on your credit report will help you or not. or should you concentrate on building new credit by establishing new accounts and paying on time.
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That is a dependant question. How old? How much? How many? Can any be removed
totally if you pay?
Credit is 70% weighted toward 2 years from today so; recent "rated"(at least
1 year on the books) good credit is ones best asset for credit score recovery.
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