What is a Payoff Agreement? A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment.A pay for delete letter is a negotiation tool to have negative information removed from your credit report. The first two payoff quotes in a one-year period are free of charge. Salt Lake County accepts three forms of payment for paying online: e-Check - Electronic check drawn against a checking account. Utah Housing Corporation (UHC) is committed to helping our homeowners who are facing difficulties making their payments. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. You may enjoy a lower APR if you use the loan for debt consolidation to pay off higher-interest debt. Complete a personal loan application online.