Lump Sum Payment & Student Loans

[LehighU2006]

I have two high interest credit cards with roughly $4000 on each one. I have enough money now to pay them off completely. How much will it hurt my credit score to pay them off in one lump sum? Should I try to stretch it out over a few months? (I'd rather not keep paying this high interest, but I don't want to ruin my credit score)

Also, I have approx. $30,000 in student loans. I've heard horror stories about people consolidating their student loans and ruining their credit. Does consolidation really negatively impact the credit score?

Thanks for any help!!

[creditwisdom]

I also have student loans, but as far as I know consolidating your loan dosent do anything other than lower you payment or possibly interest.

I have heard that doing this with credit card dept or something similar will temporarly hurt your credit.

[ted1]

As far as I know, consolidation does lower payments and possibly interest rates, but it makes you have to pay it off longer which really means more interest