Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free.Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. This is an example of a payoff letter used in a syndicated loan transaction. This article will make the process of responding to a debt lawsuit a little bit easier and tell you how to answer a summons for debt collection in Texas. A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends. Learn how payoff letters work. I am writing to request a payoff statement for my personal loan with IdeaMate. I would like to settle the outstanding balance on my loan account.