I hope this letter finds you well. This Payoff Transmittal Letter serves as a formal request to close your loan account.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. 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 chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. The type of payment received, the payment date, and the active enforcement method determine the amount of the money each case receives.