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Payoff and balance request letter

You are entitled to know what you owe. Getting a written payoff figure is also the fastest way to find out whether the numbers you have been told add up.

By MCAFax · Last updated July 29, 2026 · How we source this

Ask three funders for a payoff figure and you will get three different levels of cooperation. That in itself is information. A written payoff with a good-through date is what you need to refinance, to settle, or simply to check that the debits you have been watching leave the balance where anyone says it is. Ask in writing, and ask for the ledger, not just the number.

There is a second reason to ask. Some agreements price a payoff at the full remaining purchased amount, no matter how early you pay — meaning there is no discount for paying in month two instead of month six, and the effective cost of an early payoff is brutal. Others build in a small early-payoff schedule. The only way to know which one you signed is to make them put the number in writing next to the contract term.

Read this first. MCAFax is not a law firm and this is not legal advice. These are starting points written in plain language — facts, dates and dollar figures are yours to fill in, and every claim you make in a letter should be one you can prove. If real money is on the line, or if anyone has threatened suit, have a lawyer in your state read it before you send it.

The letter

[DATE] [YOUR NAME] [YOUR BUSINESS NAME] [YOUR MAILING ADDRESS] [YOUR EMAIL] [FUNDER / COMPANY NAME] [COMPANY ADDRESS] Re: Written payoff figure and account history — agreement [AGREEMENT OR ACCOUNT NUMBER] To whom it may concern, I am requesting the following in writing for the agreement referenced above, dated [CONTRACT DATE]: 1. The total payoff amount required to satisfy the agreement in full, with a good-through date, and the contract provision the figure is calculated under. 2. Whether that figure is the full remaining purchased amount or a discounted early-payoff figure, and if discounted, the schedule applied. 3. A complete payment history: every debit or payment received, with the date and amount of each, and any that were returned. 4. An itemized accounting of every fee assessed to date — origination, underwriting, ACH, returned-item, default, servicing or otherwise — with the date and the contract provision authorizing each. 5. The current outstanding balance under the agreement as of the date of your response. 6. The name and address of the current holder of the agreement, if it has been sold, assigned or participated to any other party. 7. Whether a UCC financing statement has been filed in connection with this agreement, and if so, the filing jurisdiction and file number. Please respond in writing to the address or email above. I am making this request in writing and would like the response in writing as well. [YOUR NAME] [TITLE] [YOUR BUSINESS NAME]

Reading the answer

  • Compare item 3 to your bank statements yourself. Missing debits, doubled debits and fees that appear in the ledger but not in the contract are all things people find on the first honest look.
  • Item 6 matters more than it looks. If the paper has been sold, the company calling you may no longer be the party you can settle with.
  • Item 7 tells you why the phone rings. A UCC filing is public, and it is the reason a dozen brokers know your business took an advance. See why brokers call you.
  • Silence is an answer. A funder who will not put a payoff figure in writing is telling you something about how the rest of the relationship will go, and the unanswered written request belongs in your file.

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