Form Number, Form Name, Category. B 101, Voluntary Petition for Individuals Filing for Bankruptcy, Individual Debtors.This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. Here's an example of the reaffirmation of a vehicle loan in a Chapter 7 case vs. "cramdown" of the debt in a Chapter 13 case. I recommend that you write or type each letter yourself rather than printing off one of these sample letters and then filling in the necessary information. No you don't have to pay off your mortgage if you file for Chapter 7 bankruptcy. 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.