Sample Forms, Policies, and Contracts. Sample Form of Payoff Letter.Use a standard business letter format with your name, contact information, and the date at the top. How to fill out the Payoff Request Letter Templates? This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. 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.