The very first thing to decide is whether or not the information being reported, such as a collection, is legitimate. If it is inaccurate, then you can use the dispute process under the FCRA to get it corrected or deleted,
If the information is accurate, then you can request its deletion in exchange for an offer to pay the debt, either in full of by way of a settlement. Any settlement offer should clearly specify that payment will be considered full satisfaction of the debt,
The problem with PFD offers is that they are totally discretionary on the part of the credtior or debt collector. Not only are they discretionary, but the credti reporting manual used by the CRAs incorporte into all credti reporting agreements the stipulation that accurately reported information is NOT to be deleted based on subsequent payment of the debt. While this guideline does not prevent deletions, it certainly gives the credtior or debt collector ammunition to state that deletion is improper.
It is usually much harder to get a PFD offer accepted for less than the full amount, as you are asking them for two concessions, One, to act contrary to establish credit reporting gudelines, and two, to accept less than the full amount they are due. The fact that a PIF and a settlement look the same to FICO scoring does not mean they are considered the same by the party with whom you are seeking the PFD.
