Formal vs Informal PFD?

[Tastycakes]

I was just wondering on what you guys thought of a formal vs a somewhat informal PFD letter. The 2 I have ATM I am trying to word out:

Informal:

To whom it may concern,

I am writing because I recently pulled my credit and there was an collection account from you on it. The only account number I have was the one listed and I am unsure exactly what this is from because it appears to be quite old. I would definitely like to take care of this providing we could come to some arrangement of how it will be reported afterwards. I simply propose in exchange for full payment you have this removed from my credit. If you agree please send me a letter of agreement and I will send certified funds for the total amount.

Formal:

To whom it may concern,

I recently pulled my credit report and noticed your company was listed under the collections section of my report. I do not have the full account number because I have never heard from you regarding this account; The only account number I have is the one listed in my report.

Because I have never heard of your company before I believe I have the right to request proper verification for this debt and/or dispute the validity of it but I can save us both a lot of time and effort by “settling“ this debt. I hope that you would understand from my view just paying this unverified debt doesn’t hold much weight if we cannot mutually agree how it will be reported afterwards; I am aware of what a paid collection would represent for me on my credit. I propose the following that would satisfy both of our needs:

I will pay your company the amount of $xxx for payment in full, according to your record, for deletion of this account on my credit and the full satisfaction of this account. Within ten business days of acceptance of the above payment, your company agrees to delete this collection and any other entries of this account on my credit for the Credit Reporting Agencies (Equifax, Experian and Transunion), not report anything in the future to Credit Reporting Agencies (Equifax, Experian and Transunion) for this account and never sell or transfer this account. You also agree to remove all previous notation of delinquency you have reported.

I believe this proposed agreement to be fair and it is my hope and goal that the resolution of this situation is in the interest of both parties. The purpose of this settlement is to (1) have your company fulfill its duties and (2) to have this item removed from my credit files. The offer of compromise detailed in this letter is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Note, I have not agreed yet that this debt is mine and I still retain the option to seek further proof from your agency of this debt. It shall also be implied that you are the one reporting, hold the rights to report and are the only one who can report this account/collection to the Credit Reporting Agencies (Equifax, Experian and Transunion).

If you accept the offer above, please prepare a letter with your company letterhead agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of your company. I will send certified payment in the amount of $xxx after receiving your agreement.

If you do not agree with the terms I have made in this letter please send me verifications that I am obligated to pay your company.

[Shogun]

I prefer the informal one.  To me, a PFD is a type of GW letter. 

[Tastycakes]

Bump, no more opinions? I think I'm leaning to the informal one too. I sent out the formal one to a couple of collections a while back with no responces. They did start sending letters again so it only woke the beast up lol.

For the informal one, any suggestions on the wording or do you think it's good?

[maluba]

I prefer the informal one. I've been wondering about the same thing too, formal vs informal.

[RobertEG]

Look at your PFD as a request for their good-will, which is what it is.  Their acceptance is discretionary.

Making demands usually does not foster good-will.  Setting arbitrary periods takes your own request off the table should they disagree with only the periods you demand.

Additionally, the FDCPA does not compel them to produce documentation, or "prove" your obligation for the debt, so the threat of pursuing proofs on their part is a bit hollow.

I would keep it short and simple.