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• A formal statement prepared when a loan payoff is contemplated. It shows the status of the loan account, all sums due, and the daily rate of interest.

  National Credit Union Administration - Cite This Source - This Definition
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  Cite Definition for Payoff statement

  American Psychological Association (APA)

  Payoff statement. (n.d.). Pocket Cents Glossary. Retrieved February 4, 2023, from website: http://www.expertglossary.com/definition/payoff-statement.

  Chicago Manual of Style (CMS)

  Payoff statement. www.mycreditunion.gov. Pocket Cents Glossary. National Credit Union Administration. http://www.expertglossary.com/definition/payoff-statement (accessed: February 4, 2023).

  Modern Language Association (MLA)

  "Payoff statement." Pocket Cents Glossary. National Credit Union Administration. 4 February. 2023 http://www.expertglossary.com/definition/payoff-statement.

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