A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. I am looking for answers about the practical limitations of using a balance transfer to accept and minimize someone else's credit card debt.The finance office electronically lets the DMV know the loan was paid off and a new title should automatically be sent out with the lien removed afterwards. A mortgage payoff letter can come in two forms. One form tells borrowers the remaining principal amount and interest they have to pay to close out the loan. Yes, you can transfer a personal loan to a balance transfer card. However, some card issuers don't allow balance transfers from personal loans. If you're having trouble entering your creditors for your balance transfer payment, we have a few tips that may help get you back on track. If you don't, you risk running up new interest charges and fees on your old cards for missed payments. If you have the funds to pay off an installment loan early, request a payoff letter from your lender.