This form is a sample letter in Word format covering the subject matter of the title of the form.
This form is a sample letter in Word format covering the subject matter of the title of the form.
You can request a payoff statement from your credit card issuer by calling the customer service number on the back of your card. Some issuers may also allow you to request a payoff statement online.
Bankruptcy. Bankruptcy is a legal process that provides relief from overwhelming debt by liquidating assets or creating a repayment plan. Chapter 7 bankruptcy is used for unsecured loans (such as credit card debt), while Chapter 13 bankruptcy may be best if you have certain assets you want to keep.
To get a payoff letter, ask your lender for an official payoff statement. Call or write to customer service or make the request online.
Which debt solutions write off debts? Bankruptcy: Writes off unsecured debts if you cannot repay them. Any assets like a house or car may be sold. Debt relief order (DRO): Writes off debts if you have a relatively low level of debt. Must also have few assets. Individual voluntary arrangement (IVA): A formal agreement.
To get a payoff letter, ask your lender for an official payoff statement. Call or write to customer service or make the request online. While logged into your account, look for options to request or calculate a payoff amount, and provide details such as your desired payoff date.