How do you find the payoff amount for an old collection account?

Answer 1

Finding Payoff AmountsIf you are referring to "how to actually locate the company" who has the collection to obtain the payoff amount, I would suggest obtaining your credit report. Most of the time your credit report will have a list of creditors along with their phone number and/or address of creditor (if they are a "by mail only" type of creditor). I would suggest then calling them and state over the phone what you are trying to accomplish; you will be surprised how many creditors will either "settle" with you for a lower amount owed to clear the debt or set up a repayment plan for you. By selecting the repayment plan option you are also "reestablishing" a credit paying history which also can be reported to your credit report as a positive item for you. I hope this helps; this is what I suggest to and often time help my mortgage customers do.

More tips from Wiki s Contributors:

• You must contact them. I have been through this myself.