Receive a payoff letter. Information about Form 1098, Mortgage Interest Statement, including recent updates, related forms and instructions on how to file.Will accept a letter from the IRS verifying the filing status of the Applicant. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. The refund is not considered as a payment toward your offer. Doubt as to Liability. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. If you know you're not going to be able to keep up with your loan payments, you might be better off selling the car yourself and paying off the debt.