Skip to main content
payoff

payoff

2 3.9
Final amount you give to finish a debt
  • noun
  • /ˈpeɪˌɔf/
translation icon : pago final
  • The bank provided a detailed statement of the mortgage payoff amount after all outstanding payments had been made.
  • debt payoff

And so with that, we are done with our major push towards debt payoff this year.

Autoplay Next

Examples

  • If not, talk to your lender about 30-year payoff strategies.

    Blog text (29)
  • I sent GMAC the payoff in Mar 08.

    Blog text (23)
  • Now we are seeing more payoff right now, which is great, more debt payoff.

  • You deserve to have a debt payoff plan that actually works.

    Blog text (6)
  • The specific issue is how the payoff would be handled.

  • My dad put me in charge of the church's mortgage payoff fundraiser.

  • Final payoff would be in month 283, reducing the time by 77 months.

    Blog text (15)
  • A debt settlement company also documents each payoff to ensure it is properly noted on your credit report as well as for future reference should an inaccuracy later appear.

    Blog text (21)
  • Her sole benefit from the refinance was the payoff of the tax lien, which she could have satisfied with direct payments to the New York City Department of Finance through an affordable payment plan.

    Academic text (2006)
  • To clear her debts, she worked hard to complete the payoff of her student loans in just five years.

Synonyms

payment
vspayoff
805 1.0

Money given for goods, services, or to settle a debt

is only for the final amount paid to clear an obligation
repayment
vspayoff
34 2.9

Money you return after you borrowed it

is specific to the last settlement that ends the debt
final payment
vspayoff
3 2.9

Last money you pay to finish a debt

is the same concept but named differently
satisfaction
vspayoff
  • Formal
1 6.9

Payment that finishes a debt or legal agreement

is similar but focuses on the plain final monetary settlement
quittance
vspayoff
  • Archaic
1 9.9

The act of paying back money you owe so the debt ends

is the payment itself rather than the legal release

Antonyms

to default
  • Specialized
55 6.7

Fail to pay money you owe on a loan

How Final

payoff
2 3.9
payment
805 1.0
installment
  • US
24 3.2

Surface Forms

payoff singular
payoffs plural

Morphology

payoff = pay + off (transparent) = pay + off

The noun denotes the final payment that 'pays off' a debt, directly reflecting the components 'pay' + 'off'.

Etymology

Payoff comes from the phrase pay off meaning 'to finish paying' a debt, where pay is 'give money' and off is 'completely'. That's why a payoff is the final payment that settles a loan or obligation.