Payoff procedures vary depending on whether the lienholder is using the Electronic Lien Title (ELT) system or a paper title. Yes, you can transfer a personal loan to a balance transfer card.However, some card issuers don't allow balance transfers from personal loans. A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. How do I write a letter to bank manager to start debit loan money from my account? You may write a simple application giving your intentions. Yes, it's possible to transfer a loan to a credit card as a balance transfer. Doing so can potentially save you a significant amount of money in interest. An IOU (I Owe You) is a legal document that sets out the details of a loan made between two people, a borrower, and a lender. This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain.