LOAN PAY-OFF REQUEST FORM. This form must be completely filled out and submitted along with all required documents.This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. The payoff demand processing fee is paid in escrow. Please see more information in the Payoff Demand Instructions. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free.