A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. Fill out this short form and receive a Detailed Information Sheet on the rate and terms we can provide you.There is no obligation. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. Make debt payments, apply for injured spouse relief, get help with your tax refund, or get help if you're a vendor.