Payoff procedures vary depending on whether the lienholder is using the Electronic Lien Title (ELT) system or a paper title. Gather all pertinent documents to ensure you have proof of money owed.Enclosed with this letter, you will find a formal payoff statement confirming the full satisfaction of your loan. A demand letter is an official notice requesting money, possession of assets, or action on a legal matter. The Vehicle Payoff Sample Letter form is a crucial document for individuals aiming to transfer their vehicle loan to the State Department Federal Credit Union. Include your vehicle account number with your payoff payment to avoid any processing delays. Find answers to your questions about stolen cards, fraud, identity theft, auto loan payment options, and buying Plumas Bancorp stock. Student loan debt relief companies might say they will lower your monthly payment or get your loans forgiven, but they can leave you worse off.