Make a budget for yourself to keep your debt within manageable limits. Promissory notes and loan counseling.Conclude your loan agreement once it's repaid. Use our release of promissory note template to formally mark your financial arrangement's end. A Payoff Letter memorializes a debtor and lender's agreement regarding a debt obligation's early payment and termination. "Notes Payable" means the promissory notes set forth on Schedule 1. Resume, cover letter, follow-up letters). • Request for Mortgage Payoff Letter(s) (if applicable): Must be filled out completely.