Request a payoff quote before you send your final payment. A payment plan agreement outlines an installment plan to repay an outstanding balance over a specified time frame.Download English and Spanish versions of TRID model and sample forms for different loan types. If interest is charged, the rate should be included with a repayment schedule. It is common for lenders to request "security" for the loan (such as a vehicle). Debt settlement letters help resolve debts. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Cancellation Letter – Follow-Up on Payoff. Signature loans, credit cards, and student loans fall into this category.